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409 Russian IT companies may become candidates for an IPO in the next 2-3 years. This is the conclusion reached by analysts from the Internet Initiatives Development Fund (IIDF) who prepared the study "IPO and PRE-IPO Opportunities in Russia", which RB.RU has reviewed.

2 billion rubles, and more than half (257) grow their revenues by 20% or more annually," FRII analysts reported.

According to the study, denmark whatsapp number databa se another 90 companies, 37% of which are IT companies, have announced plans to hold an IPO in the next two years. Among them are SKB Kontur, Sputnix, Aquarius, Qummy, IEK Group, Mobius Tech and others.

Among the largest Russian IPOs conducted after 2022, the fund noted the largest transactions: Vseinstrumenti.ru (volume of 14.5 billion rubles and free float of 12%), PAO EuroTrans (13.5 billion rubles and 24.5%), leasing company Europlan (13.1 billion rubles and 12.5%).

Due to geopolitical turbulence, the first initial public offering after a year-long break took place in December 2022, and then there was a "boom" of local placements, the fund concluded. In 2023, 8 IPOs were held in Russia, and in 2024, 11 placements took place over the three quarters.

"Interest in shares from retail investors, motivated by expectations of rising inflation, as well as active placements of companies due to the increase in the key rate and the high cost of debt financing, have revived the Russian equity capital market," FRII reported.

"The driver of the IPO market development is the growing demand from retail investors. The number of individual investors on the Moscow Exchange has already exceeded 33 million. The involvement of institutional investors is also increasing. As of October 2024, 12 IPO transactions with a total volume of 65 billion rubles were completed," the study quotes Dmitry Taskin, Director of Primary Market Development at Moscow Exchange.

In September, Dsight published a report, “Venture Eurasia,” in which it noted a pre-IPO and IPO boom in Russia in 2024.

"High risks contribute to the concentration of deals at early stages and within angel clubs. Since 2022, private investors have become a significant player in the venture, IPO and pre-IPO markets, which also stimulates experiments with instruments such as digital financial assets and crowdfunding," -commentedactivity of retail investors, B1 partner Anton Ustimenko.