By Ivan Anderzhanov in Mosocw
The London Stock Exchange and the Micex today launched a Russian IPO information platform to serve the growing pipeline of Russian companies seeking to list overseas.
The site, which is located at www.RussianIPO.com, provides companies, advisers and market participants with access to trading information, news and statistics from Russia and the CIS in both English and Russian languages.
Both exchanges have been cooperating on marketing dual IPOs in London and Moscow since they signed an agreement to promote Russian IPOs on their respective markets back in 2006.
Xavier Rolet, chief executive of the London Stock Exchange, last week said he expects more companies from Asia to seek listings in London, with companies from the energy, mining and agribusiness sectors to the fore.
He also expects more listings from Russian companies in spite of the decision of the Russian aluminium producer Rusal to conduct its $2.2bn listing in Hong Kong.
Some bankers believe think that Rusal’s dismal debut to trading has reduced the threat to more traditional bourses, such as the London Stock Exchange.
“I think Russian companies where their corporate governance is less than pristine may opt for Hong Kong,” said one broker with a number of Asian clients. “But ultimately, its cheaper and more efficient to have a listing in the London Stock Exchange and the Russians love come to town for Chelsea, Harrods and all that.”
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