According to Andrei Demchenko, general director of the Institute for Stock Market and Management, 15 Russian companies floated their shares, worth $5 billion, in 2005, and 20 companies conducted IPOs in 2006, issuing shares worth about $18 billion.
"More than 150 companies voiced their desire to conduct IPOs in 2007, although only 30 to 35 of them are ready to float their shares, attracting about $20 billion," Demchenko said during an IPO business congress in Kazan, the capital of the southern Russian republic of Tatarstan.
"We are monitoring the statistics for all Russian companies that announced their plans to float shares on the market," he said. "Our analysis shows that only 30 to 35 companies are ready to conduct IPOs in 2007."
Other companies will have to wait until 2008-2009, because floating shares on foreign stock exchanges "demands at least three years of financial reporting according to international standards, and this cannot be done in one day," the expert said.
IPO congresses are regional business events aimed at providing information support for Russian companies in conducting IPOs and increasing capitalization with the least expense.
