Moscow Exchange expects four more IPOs by year-end

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A view shows the headquarters of Moscow Exchange

MOSCOW – The Moscow Exchange expects four initial public offerings (IPOs) by the end of the year, Oleg Vyugin, chairman of the supervisory board of Russia’s largest bourse, said on Thursday.

A post-pandemic economic recovery and a stock market surge to record highs are fuelling a pick-up in listings in Russia following a barren few years.

Renaissance Insurance Group was the latest to offer shares in Moscow at 120 roubles ($1.69) per one ordinary share, raising $250 million, below its initial targets.

IT company Softline, real estate database CIAN and car sharing company Delimobil are all planning market debuts in Moscow and on foreign stock exchanges in the near future.

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($1 = 70.9575 roubles)

(Reporting by Olga Popova; writing by Andrey Ostroukh; editing by Jason Neely)