Moscow Exchange IPO Guide


Acknowledgements to the Authors

Анна Василенко

Anna Vasilenko

Head of Primary Market and Client Support

Moscow Exchange IPO Guide is the teamwork of leading capital market experts and Moscow Exchange employees. My thanks go to the authors who participated in the preparation of the Guide adding their rich working experience on equity markets. I hope the Guide will be of great practical use to its readers. My special thanks go to my colleagues from Moscow Exchange, in particular to the employees of the Strategy Department and the Innovation and Investment Market Department, who prepared materials on the functioning of Moscow Exchange.

The Indices Department unfolded the story of Moscow Exchange’s index family, as well as international indices which may include the shares of Russian companies.

I would like to express my separate gratitude to the colleagues of the Legal Department, Listing, Department and Business Division ‘Equity & Bond Market’ for their harmonious teamwork in preparing the Guide and Peer Reviews on various matters. The Guide has been released owing to the work of the Communications Department whose team organised the preparation process and release of the publication.

The Primary Market Department has greatly contributed to the book release by shaping the structure of the book and coordinating the work of its co-authors. Keeping the balance between the book’s detailed elaboration and the simplicity of its perception was an important component in the process of preparing the materials. We have tried to make the Guide a practical toolkit covering all aspects of IPOs.

Leading experts from investment banks, law firms, auditors, brokers, specialists in financial communications – all of them have also contributed to the book. The book includes the authors’ biographies and their contact details. Specialist from the Linya Prava incorporated information on Moscow Exchange’s Listing Rules, while colleagues from Linklaters wrote a section on the Listing of foreign securities.

Renaissance Capital employees shared their expertise in preparing issuers for IPOs. A team from Cleary Gottlieb contributed material on the legal aspects of entry to Moscow Exchange. Colleagues from PwC described how to build corporate governance inside a company. EY specialists shared their knowledge of special features in preparing and conducting audits of financial statements before a trade.

Specialists from Sberbank CIB and VTB Capital investment banks described in detail how to float shares and highlighted the aspects the companies should focus on at each stage of the trade.

Moreover, the Guide welcomes issuers to the Exchange following their IPOs. Specialists from EM Communications described particular features of interaction with mass media and investors. Colleagues from Finam shared their expertise on implementing market-making programs and on developing a secondary securities market. MSCI employees contributed materials on MSCI Indexes, including the MSCI Russia Index.