Salem Radio Network News Thursday, December 7, 2023


Russian tech firm Astra to open IPO books on Oct. 5 – sources

By Olga Popova and Gleb Stolyarov

MOSCOW (Reuters) – Russian technology company Astra plans to open the books for an initial public offering (IPO) on the Moscow Exchange on Thursday, two financial market sources told Reuters, with trading due to start on Oct. 13.

Astra’s listing, which is expected to result in a free float of about 5%, could breathe some life into Russia’s moribund equity capital markets, which have been starved of deals since Moscow sent its troops into Ukraine in February 2022, prompting sanctions and the departure of Western bankers and lawyers.

(Reporting by Olga Popova and Gleb Stolyarov; Writing by Alexander Marrow; Editing by Mark Trevelyan)


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