CEE Equity

Equity capital markets investors welcomed the return of Russian deals on Tuesday night as two large shareholders exited Detsky Mir, the children’s retailer. Bankers expect more deals to come and are urging sellers, if possible, to come to market early to avoid running close to the US presidential election in November.

Hong Kong-listed Summit Ascent Holdings, an investment holding company focused on operating resorts, is planning a rights issue worth HK$1.6bn ($206m).

Ivan Tavrin, the former CEO of Russian telecoms company Megafon, is seeking to raise $250m for a special purpose acquisition company (Spac) which is likely to target a merger with a Russian company.

Investors are growing increasingly excited about the IPO of Allegro, the Polish e-commerce platform, and the sources working on the deal are hoping to use this momentum to launch the deal early in the autumn.

A 5.75m American Depositary Receipt (ADR) trade in HeadHunter Group, a company which produces software for recruiters, has become the latest in a string of Russia equity placings.

Otkritie Bank, the Russian financial services company, sold a 3% stake in gold and silver miner Polymetal on Tuesday night, the third trade in the firm in three months, as investors flock to take advantage of rising gold prices.

Europe’s equity capital markets bankers are preparing for a busy autumn of IPOs and have been meeting with investors to secure early support for these deals. Bankers are hoping the new deals retain some of the features of successful listings in the first half of the year.

Investors welcomed a 12.5m block sale in Polymetal, the Russian miner of gold and other precious metals, on Tuesday night and poured into the trade following a risk auction.

Yandex, the Russian internet company, has raised $800m through a sale of new shares to US investors and a private placement to a consortium of Russian oligarchs and VTB Bank.

A Rb11bn ($157m) block trade in Detsky Mir, the Russian children’s retailer, won a big investor reception on Tuesday night. There are now hopes that there will be more Russian transactions in the weeks and months ahead.

Spain’s Ferrovial has sold a Z255m ($65m) chunk of its majority stake in Budimex, the Polish infrastructure construction company, via an accelerated bookbuild.

Samruk-Kazyna, the Kazakh sovereign wealth fund, raised $206.7m on Tuesday night through a share placing in Kazatomprom, the country’s state uranium company. Emerging markets investors, who have been lacking new paper during the coronavirus crisis, lapped up the shares.