Robert Venes is assistant editor of equities and structured equity at IFR. Robert joined IFR in late 2009 from sister title Acquisitions Monthly, where he focused on private equity transactions and fundraisings. He was previously associate editor at Private Equity International and, before that, editor of Venturedome.
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A sell-down in aluminium giant Rusal provided further evidence last week that Russia is firmly back on investors’ radars. The deal follows the Rbs18.402bn (US$319m) flotation of Detsky Mir, a Rbs14.86bn accelerated sale in PhosAgro and a US$250m five-year convertible bond by steel producer Severstal
As the first Russian float in nearly three years to include international banks, the IPO of Detsky Mir was already seen as a bellwether. And selling 90% of the stock to foreign investors proved that interest in offerings from the nation is strong despite continued financial sanctions on Russia by the US and European Union.
Nick Williams, head of EMEA equity capital markets at Credit Suisse, is moving to New York this week, with his US counterpart Neil Mitchell moving in the opposite direction.