Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Russia's Renaissance Insurance eyes $1 billion IPO in Moscow -source

Published 09/03/2021, 01:12 PM
Updated 09/03/2021, 01:16 PM
© 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."

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.