Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
In terms of the number of public offerings, 2024 was a record year over the past 10 years. 19 issuers entered the equity capital market, 15 of them did so for the first time. The companies were able to raise over 102 billion rubles, which is, however, less than the previous year’s figures.
The Bank of Russia has prepared the first information and analytical material, dedicated to the IPO market. It is planned that such a review will be published annually.
The main public offerings took place in the first half of 2024 amid a growing stock market and increased demand for shares from retail investors. The issuers were dominated by companies with small (up to 30 billion rubles) and medium (from 30 billion to 100 billion rubles) capitalization from the IT sector, digital technologies, the sharing economy, and the pharmaceutical industry.
The buyers of shares were both retail and institutional investors in almost equal numbers: 40 and 48% of the total volume of funds raised. But it was retail investors who determined the dynamics and results of public placements.
As noted in the review, a significant proportion of IPO participants lost interest in shares within the first 30 days after the public offering, which indicates a short-term investment strategy. This is partly due to the uncertainty of external conditions for the capital market.
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