High Heels to Diapers Rule in Russia IPO Market Surge - Bloomberg

High Heels to Diapers Rule in Russia IPO Market Surge - Bloomberg:

"Less than one month into 2014, Russian companies are already lined up to almost match the $10.6 billion of share sales that took place last year as retailers seek cash for expansion.

Companies from Detsky Mir, the nation’s largest retailer of children’s goods, to hypermarket chain Lenta Ltd. and shoe retailer Obuv Rossii are planning initial public offerings. OAO Gazprombank, which estimates there are $9.3 billion to $12.5 billion worth of deals pending, says the consumer, banking and technology industries will lead the surge in sales. Russian retail sales rose at a faster pace than economists predicted in November as unemployment fell and wages grew.

“Russia is still seen as a very attractive consumer market, the average income has increased so much,” Erik Depoy, an equity strategist at Gazprombank, said in a Jan. 9 telephone interview from Moscow. “A lot of that will reflow back into the economy. If we assume that liquidity conditions globally will remain plentiful, the primary market will have a decent year.”"

'via Blog this'