Sberbank: Some Russian firms may postpone IPOs over coronavirus

MOSCOW, Mar 2 (PRIME) -- Top bank Sberbank is preparing initial public offerings (IPOs) of several Russian companies on the Moscow Exchange, but the timeframe may be revised due to the spread of coronavirus, Deputy CEO Anatoly Popov told PRIME on Monday.

“We are working with several issuers. But the timeframe will, of course, need additional discussion due to the market’s high volatility caused by the spread of coronavirus. Listing of these companies is planned on the Moscow Exchange,” he said.

“The size of the deals varies from U.S. $250 million to $500 million. The Moscow Exchange and NASDAQ are among the possible platforms. We keep in touch will all the candidates, but cannot disclose the details.”

In January, Popov said that at least 10 domestic companies thought over IPOs, and three or four of them planned to organize their offerings in 2020.

(66.9909 rubles – U.S. $1)

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