The year 2024 has become a record for the last 10 years in terms of the number of public stock offerings on the Russian market.
07 April 18:00
The year 2024 has become a record for the last 10 years in terms of the number of public stock offerings on the Russian market.
18:00; 07 April 2025 year
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2024 was a record year for the last 10 years in terms of the number of public stock offerings on the Russian market. A total of 19 companies have conducted IPOs, of which 15 have entered the equity market for the first time. Despite a 58% increase in the number of placements compared to the previous year, the volume of funds raised amounted to 102.1 billion rubles, which is 20% less than in 2023. Such data is provided by the Central Bank.
The main activity in the IPO market occurred in the first half of 2024, when the stock market was growing and there was increased demand from retail investors. By the end of the year, the output of new issuers slowed down amid an increase in the key rate and a decline in the stock index. Among the companies that entered the market, organizations of small (up to 30 billion rubles) and medium (from 30 to 100 billion rubles) capitalization from sectors such as IT, digital technologies and the pharmaceutical industry prevailed. The investor structure was distributed as follows: retail investors took 40% (40.5 billion rubles), qualified investors 27% (27.3 billion rubles), institutional investors 48% of the total funds raised, and non-financial investorsndash; 13% (12.8 billion rubles). It is noteworthy that about 39% of private investors participated in only one placement, investing 7.3 billion rubles, which indicates the lack of a stable culture of participation in public offerings. An important feature of the placements was the relatively low share of shares in free float (from 8 to 13.5%), which is significantly lower than the average for long-traded shares (28%). This had an impact on the liquidity and volatility of the shares after the IPO. In addition, an analysis of the behavior of primary investors showed a tendency to short-term strategies: there was a decrease in the number of securities in their portfolios during the first 30 trading days after the placement. In general, the IPO market has demonstrated significant quantitative growth with a slight decrease in the volume of funds raised. There is a structural transformation of market participants, but the predominance of short-term investment strategies remains. For the further development of the market, it is necessary to stimulate the participation of institutional investors, develop a culture of long-term investment among private investors and work to increase the share of shares in free circulation to increase liquidity.
