Russian stock market was booming in 2006 despite a non-free market approach of Russian SEC regarding a mandatory requirement to sell at least 30% of IPO stock domestically (in Ru exchange) and up to 70% on foreign exchanges (NYSE, LSE etc).
2004; 2005; 2006
6------ 13---- 21----- N of IPOs
0.86--- 5.2-- 18.6---- Volume in $ Bln
The leader of Ru IPOs was RosNeft with more than $10 bln. The impressive results bring a concern though why NY based exchanges keep losing to London ones?
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5 comments:
Let's all chant in unison "Sarbanes-Oxley"
Could be Russia views itself as a European country, London is the financial center of Europe, so it only follows.
First comment is correct, the exchanges in America are upset about Sarbanes-Oxley and feel it is an unfair burden when competing for listings with exchanges in Europe and Asia.
We definitely have to be more competitive...
what are some big ipo names to be seen in 2007?
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