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  Thursday, March 4, 2021
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The procedure for Russian credit institutions to hold an initial public offering of their shares (IPO) should be simplified by summer
The procedure for Russian credit institutions to hold an initial public offering of their shares (IPO) should be simplified by summer, a senior member of the lower chamber of Russia's parliament said Thursday. Anatoly Aksakov, a deputy chairman of the State Duma's committee for credit institutions and financial markets, said some restrictions imposed by the Central Bank of Russia for credit institutions to carry out their initial issuance of shares remained in force. He said his committee was currently working with the CBR to resolve the problem. "Many credit institutions have difficulties with IPOs and some banks have no way to carry out initial placements," he said. But he added that some credit institutions were already preparing for their IPOs. The banks are preparing to follow the example of a slew of Russian companies who have either conducted IPOs or are going to do so soon. Banking major Rosbank is reportedly preparing an IPO on bourses in both Moscow and London for next summer.
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