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Russian equity: good to be free?
Who owns the Russian equity market and how does ownership affect company performance? A new research note from Troika Dialog sheds some light. The short answer to the first question is, the state,...
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Megafon: going to market while we can
With the new Putin administration settling down, the Russian economy chuggling along nicely by global standards, and global market sentiment improving (slightly), Russian companies are renewing their...
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Russian IPOs: rail freight operator NefteTransService shunts its way into line
By Ben Aris of business new europe A window of optimism (albeit a small one) is opening in the global equity markets for Russian companies contemplating an initial or secondary share offering...
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Sberbank’s $5.4bn sale: chocks away
Moscow has finally got away a big chunk of its much-discussed and oft-delayed privatisation programme, with the sale on Monday of a 7.58 per cent stake in Sberbank, the country’s largest bank....
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MDMG: cashing in on IPO rebirth
By Ben Aris of business new europe Russia’s leading private healthcare company MD Medical Group is hoping to cash in on growing enthusiasm for Russian equity with an October IPO to raise more than...
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Sberbank may help state asset sales
The Russian stock market marked the news of the success of Sberbank’s $5bn offering with a 1.9 per cent drop in the dollar-denominated RTS index, the third daily decline in a row. The big bank fell...
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Russia sets 25 per cent payout ratio for state-run companies
Russia on Friday implemented much-debated orders for state-controlled companies to boost dividends in a move that could perk up interest in the country’s undervalued stock market. State companies’...
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Megafon IPO: getting there
Megafon, the Russian mobile operator, seems set to get its IPO away, with the help of this month’s modest recovery in financial market sentiment. Speaking on the last day of the sale, people close to...
View ArticleDisappointing debut for Megafon
A tense stock market debut for Megafon and its underwriters finished with the Russian telecoms company’s London-listed global depository receipts closing at $19.60, just below the $20-a-share IPO...
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Russia: Micex celebrates New Year
Russian markets re-opened on Tuesday after the country’s nine-day New Year’s hibernation holiday, and got 2013 off to a good start. Boosted by an improvement in global sentiment, the Micex index rose...
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Moscow bourse: no place like home
The Moscow Exchange is planning to float shares on its own platform in an initial public offering that will fly the flag for Russia’s principal stock trading venue. By opting for an exclusively...
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Guest post: take another (bullish) look at Russia
By Marcus Svedberg of East Capital It became quite popular last year to question emerging markets in general and the Brics in particular. Analysts started to doubt the sustainability of their economic...
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Putin: time to get serious about the stock market and privatisation
By Ben Aris of bne Russian President Vladimir Putin has started his second stint of two possible terms as president by launching a sweeping programme of reforms. Changes to the financial system are the...
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Russia’s image problem in the US
Chris Osborne, Head of Sberbank CIB USA, would be the first to admit that Russia has an image problem among American investors. “Selling Russia can be a challenge,” he told beyondbrics. “For people...
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Megafon shares: flying high
Alisher Usmanov, Megafon’s controlling shareholder, must be delighted with the decision to push ahead with the Russian mobile telephone operator’s initial public offering last November. Megafon shares...
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Russian SOEs: show us the divvy!
Russia’s finances are being squeezed by a contraction in economic growth and faltering oil prices. So what better time for Russia to demand bigger dividends from its powerful state companies? New rules...
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How to play Putin: fund managers disagree
A fascinating note has arrived in our inbox from Steven Holden of Copley Fund Research, which tracks the investments of 100 big global EM equity funds with about $285bn of assets under management....
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Hello 2015: Russian equities – time to buy?
Russian asset prices have taken a severe battering this year and are now ranked as among the cheapest in the world. The obvious question many are now asking is, “is this a good time to buy” or “is...
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Guest post: Russia’s inflation dilemma
By Vladimir Tikhomirov, BCS Financial Group Russia’s central bank faces a dilemma at its monetary policy meeting on Friday. It stated when it hiked interest rates to 17 per cent last month – to their...
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Russia’s rate cut to do more harm than good, analysts say
Russia’s surprise cut in its key interest rate to 15 per cent from 17 per cent on Friday was primarily a product of political pressure and may do more harm than good to Moscow’s twin aims of...
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