Russian Market of IPO / SPO January-June 2010

The following study covers the processes of a public offering (IPO / SPO / PO) ordinary / voting shares in companies across a wide and limited circle of investors with the passage of a listing on the Stock Exchange for the period January-June 2010. 

Results for the first six months of 2010 are encouraging and justify the hopes of 2009 - "We hope for growth." 


Quantitative volume (13 offerings) is close to the maximum value for all time of existence of the Russian market of IPO / SPO (in 2007), and the value ($ 3.9 billion) is less than just the same peak in 2007 (which were related accommodations of  VTB, Sberbank and PIC, Uralkali, etc.). 

It is worth noting that the results of the first half of 2009 reflect the dynamics of the entire Russian stock market.  RTS and MICEX and market of IPO / SPO showed values comparable to 2004 in this period. 


Summarized data of the Russian market: 

• 13 - Quantitative market volume;
• $ 3,939 million - the value of the market;
• $ 302,9 million - the average volume of distribution;
• 11,9% - the weighted average of shares placement;
• 53% of the value of the market posted on the Hong Kong Stock Exchange (HSEx);
• 57% of the value of the market falls to accommodate Rusal;  
• 32% of the quantitative amount of the market is the fuel industry; 
• Highest Rated consultants:
Renaissance Capital - The organizer of placement and placement underwriter; 
Cleary Gottlieb Steen and Hamilton - Associate of the Issuer; 
Linklaters - Associate Consultant; 
KPMG - Auditor of the Issuer;
Financial Dynamics - IR-consultant of the Issuer.


By materials of Analytical Group ReDeal Project 

Results of the Forum IPO and SPO 2010 in Russia

Forum IPO & SPO-2010 - Russia's largest annual forum on the problems and prospects of the organization of initial public offerings by Russian companies  took place on September 23 2010 in the Hall "Valdai" of the Marriott Tverskaya hotel.

Organized against the background of the Russian IPO market growth, the forum at a qualitatively new level continued dialogue on issues of raising capital in Russia and abroad. 


The main difference between this year's meeting is the emergence of a new experience in organizing of IPO. The event participants were given the opportunity to obtain information on the development of the IPO market regulators, stock exchanges (both Russian and foreign), financial advisers and the issuers themselves. 


The forum also presented an overview of new financial products and instruments offered by Russian issuers. Particular attention is given to new services intended to promote IPO of companies with an average capitalization (mid-caps).

At the forum there were professionals engaged in the process of the IPO and SPO issuer. Delegates and speakers of the Forum IPO & SPO-2010 were representatives of the Federal Financial Markets Service, the Central Bank, Ministry of Finance, Economic Development, FAS, and the largest public companies, banks, underwriters, and the organizers of IPOs, legal and consulting firms, rating agencies, investment companies, and most importantly - representatives of stock exchanges, both Russian and foreign.

SPO Of Russian Alcohol Producer "Synergy"

The placement price of shares of vodka producer Synergy is defined in the $ 36 - at the lower end of the range, a source close to the placement reported.
The range of secondary offering (SPO) is $ 36-40.
Synergy placed 15 percent of existing shares to repurchase securities of the shareholders of the new issue. Total for placement are offered 2.9 million of common shares, selling shareholder is Sword Enterprises Ltd.
The source said that the company proposed to place the entire volume. This corresponds to the proceeds from the SPO to $ 104.4 million.
Organizers of the SPO are VTB Capital and Renaissance Capital.
The proceeds from secondary public offering of funds (excluding the cost of accommodation) will be used by the company to reduce debt, as well as on potential transactions in mergers and acquisitions, the exit direction in the price segment, where products are not yet represented.
Synergy is the second largest producer of alcoholic beverages in Russia by production volume and occupies 9 percent of the country's legal market with shipments of 10.131 million dal (by Rosstat's data in 2009).

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Annual Forum IPO & SPO 2010 in Russia

Annual Forum "IPO & SPO-2010" - is Russia's largest conference dedicated to the problems and prospects of the organization of the primary public offerings of Russian companies, will be held on September 23 in Moscow, said in a press release.  The forum organizers are the Institute of Financial Markets (IRFR). 

"Forum  "IPO & SPO-2010" will take place against a background of growing Russian market IPO, and will continue to dialogue on issues of raising capital in Russia and abroad on a qualitatively new level. Event participants will have the opportunity to obtain information on the further development of the IPO market regulators, representatives of Russian and foreign exchanges, financial advisors and issuers themselves ", - the report said. 

The forum will also provide an overview of new financial products and instruments offered by Russian issuers. It will focus on new services intended to promote the IPO of  companies with an average capitalization (mid-caps). 

"Among the delegates and speakers of the Forum "IPO & SPO-2010" are representatives of CBR, Federal Financial Markets Service, the Ministry of Finance, the Ministry of Economic Development, FAS, as well as the largest issuers, banks, underwriters, and the organizers of IPOs, legal and consulting firms, rating agencies, investment companies and exchanges ", - stated in a press release.