Analysts doubted that there would be enough investor interest for a
Russian media and IT company employing just 500 people to launch
the country's first ever domestic IPO but RBC Information Systems
has done it. "Analysts had got used to looking at hugely
capitalized companies such as Gazprom," says general director of
RBC, Yuri Rovensky. "In comparison, we look very small, which made
some say we were not interesting for the investors."
The issue size may have been small - the company only
raised $13.28 million from its simultaneous placement of 16 million
shares on Russia's two stock exchanges, RTS and MICEX - but the
significance could be great. To date all Russia's IPOs have been
issued on foreign exchanges. Now RBC's IPO has closed...
