The St. Petersburg Stock Exchange, which has been targeted by sanctions, will focus on IPOs of Russian companies that are also subject to Western restrictions, the trading platform’s CEO Evgeny Serdyukov said.
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As Serdyukov told RBC Investments, the site has experience in creating new markets and massive placements. The exchange, which was under restrictions, “focused on developing the market for sanctioned issuers that create Russia’s industrial sovereignty.”
Serdyukov recalled that the SPB Exchange has a functional infrastructure and sees great potential for the placement of companies whose activities are related to high-tech priority areas.
Previously, the Ministry of Finance took the initiative to resolve the issue of IPOs of sanctioned Russian companies.
SPB Exchange was among the organizations added to the US SDN list in November 2023. Trading of foreign instruments on the site has since stopped.
Author:
Natalia Gormaleva
Source: RB
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