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Over 70 Russia’s Companies to Carry Out IPOs in 2 Years
Over 70 companies of Russia intend to carry out IPOs in the following two years, Russia’s Finance Minister Alexey Kudrin said when presenting the draft budget to State Duma, Interfax reported.
”Nowadays, over 70 companies of Russia have announced readiness to implement the IPO program in the nearest two years,” Kudrin said, emphasizing the steady growth of the stock market of Russia. In the recent seven years, Russia’s stock market showed the highest dynamics amid developing markets; the RTS benchmark grew 13.4 fold and the MICEX index stepped up 11.7 fold.
Capitalization of Russia’s stock market widened 2.4 fold to $1.322 trillion in 2006. “As a result, in terms of stock market capitalization, Russia outpaced such countries as Korea, Brazil, India, Saudi Arabia, Mexico and many other states,” Kudrin specified.
Russia was the fifth in IPO worldwide past year, the minister said. Fifteen IPOs were held on domestic and foreign markets and the selling holders raised $16.7 billion. “It is materially more than in previous years,” the minister pointed out.
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