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Russia's Pandemic Winners Drive $10 Billion Share Sale Line

Russia’s Pandemic Winners Drive $10 Billion Share Sale Line Bloomberg 2/16/2021 Yuliya Fedorinova and Áine Quinn (Bloomberg) Russia is on track for a blockbuster year of share sales, led by gold miners, e-commerce companies, and other firms emerging stronger from the pandemic. Initial and secondary public offerings by Russian companies on domestic and foreign exchanges could exceed $10 billion this year, according to Alex Metherell, co-head of global banking at VTB Capital, the investment-banking arm of Russia’s second-biggest lender. That would be the strongest showing in at least eight years, Dealogic data show. © Bloomberg IPO Boom For now, markets are awash with stimulus, tempting local companies to join the global IPO rush after Russia’s benchmark MOEX stock index hit a record high last month. That could change if opposition leader Alexey Navalny’s arrest and imprisonment triggers tougher sanctions from the U.S. and Europe, but some inv

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