Russia’s Renaissance Insurance eyes $1 billion IPO in Moscow -source By Reuters

© Reuters. FILE PHOTO: An interior view shows the headquarters of Moscow Exchange in Moscow, Russia April 27, 2021. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) – Renaissance Insurance Group is planning to hold an initial public offering on the Moscow Exchange potentially as early as this autumn, a source familiar with the preparation for the listing told Reuters on Friday.

The source, who asked not to be named due to the sensitivity of the issue, said Renaissance Insurance “could seek a valuation of around $1 billion” in the Moscow IPO.

Renaissance Insurance could announce its intention to hold the IPO before the end of September, Interfax news agency reported, citing unnamed sources.

Renaissance Insurance, which was founded in 1997, declined to comment on Friday. Boris Jordan is the company’s president and board chairman.

In June, the company said it was “evaluating various strategic options which may include an initial public offering of Renaissance Insurance Group JSC on the Moscow Exchange.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button