MOSCOW, Dec. 11 (Xinhua) -- The real boom in Russian Initial Public Offerings (IPOs) is still ahead, with the market expected to grow many times larger in the coming years, Anatoly Popov, Deputy Chairman of Russia's largest bank Sberbank was quoted by local media Wednesday as saying.
"2024 has been a very successful year for IPOs in Russia. We've conducted nearly twice as many IPOs as last year, and more than doubled the amount of funds raised for companies and their shareholders," Popov said.
In 2024, Russia saw 19 primary and secondary offerings, with issuers raising about 102 billion rubles (1 billion U.S. dollars).
"The activity we've seen in 2023 and 2024 has only been a prelude to establishing a truly functional and substantial market for equity placements worth hundreds of billions of rubles," he added.
Sberbank predicted that the IPO market in Russia would remain at the 2024 level into 2025.
He also highlighted that many issuers will likely come from the technology sector, which is less affected by declining returns due to loan repayments and represents a rapidly growing segment. "However, we also expect issuers from manufacturing, retail, pharmaceuticals, and other sectors," Popov said. ■
