Forced IPO

In 2022, the financial sector of the Russian Federation has undergone significant changes. Sanction pressure has reduced the choice of investment products. Restrictions that have emerged and risks of their further tightening have closed a significant part of the capital within the country for investors, and cut off the possibility of borrowing abroad for companies. Russian companies in 2023 returned to IPO as a current strategy for raising capital. However, in 2023, the market for initial public changes still has not returned to its pre-crisis state. In 2023, the market for initial (IPO) and secondary (SPO) public offerings on the Moscow Exchange radically transformed. The place of foreign institutional investors in transactions was taken by Russian individuals, who now, as a rule, occupy at least half of the order book. Transactions worth several billion rubles were impossible in principle before 2022, but now they do not surprise anyone. In 2024, the Russian IPO market is expected to see not large volumes of placements, a predominance of companies from the IT sector and increased interest from private investors.