10-20 VTB Clients Eyeing Public Market Entry, Says VTB Official

ST. PETERSBURG, June 4. /TASS/. Between 10 and 20 VTB client companies are considering entering the public capital market, VTB Board Member Vitaly Sergeychuk told TASS on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"Between 10 to 20 of our clients are currently considering entering the public capital market. That said, the further development of the IPO market will largely depend on interest rate dynamics," he said.

Among the constraints preventing companies from going public, the banker cited the country’s macroeconomic environment, as well as investors’ caution in assessing the companies they plan to invest in. "The third (factor - TASS) is that an IPO requires serious preparation in several areas at once: transitioning to public reporting under IFRS, building corporate governance with independent directors, creating an investor relations function, and increasing transparency," Sergeychuk said.

The St. Petersburg International Economic Forum is taking place on June 3-6. This year’s theme is "Pragmatic Dialogue: the Path to a Stable Future." The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.