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Sector
Financials
Size
Large Cap
Market Cap £4.05bn
Enterprise Value £4.12bn
Revenue £1.62bn
Position in Universe 176th / 1807

FACTBOX-En+ debut marks the return of Russian IPOs to London

Fri 3rd November, 2017 12:40pm
Nov 3 (Reuters) - The $1.5 billion initial public offering 
(IPO) of Russia's En+  ENPLq.L  is the first major float of a 
Russian company in London since 2014, when Russia's annexation 
of Ukraine's Crimea peninsula triggered Western sanctions on 
Moscow. 
    Below follows an overview of the equity listings by Russian 
companies in London:  
    * Before 2014, London was the preferred destination of 
Russian 
companies for their market debut: 67 of the 117 Russian IPOs 
were held there between 2005 and 2014. 
    * Another 37 Russian IPOs were held in Moscow in the same 
period. 
    * Since financial conglomerate Sistema  AFKS.MM   SSAq.L  
raised 
$1.5 billion in an IPO in February 2005, Russian and CIS 
companies have raised more than $72 billion in new and further 
offerings on the London Stock Exchange. 
    * Before En+, the last Russian company to hold a primary 
equity 
offering in London was retailer Lenta  LNTAq.L , raising $952 
million in February 2014. 
    * The biggest Russian IPO to date was a $10.7 billion float 
by oil 
major Rosneft  ROSN.MM   ROSNq.L  in London and Moscow in 2006, 
followed by a $8 billion offering of state-run VTB Bank 
 VTBR.MM  in 2007. 
    * Other Russian IPOs priced at more than $1 billion included 
a 
$1.9 billion offering of homebuilder PIK  PIKK.MM , which then 
shut down its London listing in 2017.  urn:newsml:reuters.com:*:nR4N1GE01M 
    * Mobile operator Megafon  MFON.MM   MFONq.L  raised $1.7 
billion 
in 2012, while private lender TCS Group  TCSq.L  and pipemaker 
TMK  TRMK.MM   TRMKq.L  both received over $1 billion from their 
offerings in 2013 and 2006, respectively. 
 
 
 (Compiled by Anna Pruchnicka; Editing by Edmund Blair) 
 ((anna.pruchnicka@thomsonreuters.com;+48 58 772 07 02)) 
 
Keywords: EN+ IPO/FACTBOX
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