This year is shaping up to be the one of the most active for share sales since Moscow was slapped with international sanctions in 2014. Record-hitting stock markets abroad and an improving economy at home, helped by rising oil prices, have smoothed the path for some companies.
Geopolitics is another key factor contributing to the Russian IPO renaissance. Though relations between the U.S. and Russia remain near their lowest since the Cold War, the summit in June between President Biden and his Russian counterpart, Vladimir Putin, alleviated some market concerns about tough new sanctions, investors say.
“The environment is quite conducive right now,” Viktor Szabo, an investment director at Aberdeen Standard Investments in London. “Growth has been stable and tensions with the U.S. appear to have eased.”
So far in 2021, Russian companies have issued around $6 billion in stock, the largest…