Source Pravda.Ru

IPO boom expected in Russia in September

In September 2002, there will be a boom of corporate initial publicofferings (IPO) in Russia. According to an analytical survey by one of theMoscow banks, the total amount of corporate bonds issued in Russia, willreach RUR8.6bn (about $272.30m) in September 2002. For example, RAO UES andRusAl (the Russian Aluminum company) are planning to issue RUR3bn (about$94.99m) in securities each. The prospectuses of these issues are beingcurrently registered at the Russian Federal Securities Commission. Additionally, the Babayevsky sweets producer is expected to issue RUR500m(about $15.83m) in bonds, as well as the Red October sweets producer(RUR300m, or about $9.50m), the Prodimeks trade house (RUR500m, or about$15.83m) and the Seventh Continent trade house (RUR300m, or about $9.50m).The Volzhskoye shipping company is also going to attract RUR500m (about$15.83m) from the stock market. The total amount of bond issues will reachRUR2.5bn (about $79.16m). The range of financial instruments offered toinvestors, will eventually be rather wide at the end of August - inSeptember. It will include both highly-liquid and more speculative bonds ofRAO UES and RusAl and those with high coupon rates of the Babayevsky andRed October sweets producers, analysts believe. In connection with this,investors are recommended not to buy actively on the secondary market and"to make room in their investment portfolios"..

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases
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