Russian initial public offerings may total $5 billion this year, versus an earlier forecast of $10 billion, Alfa Bank said Thursday in a statement.
“Investors turned risk-averse, forcing companies to postpone or cancel their planned share placements,” Alfa analysts said. Corporate bond placements in rubles and foreign currency will exceed the value of IPOs by 14 times, totaling $70 billion by year-end, Alfa said.
(Bloomberg)
