22 Oct 2021
Sova Capital has acted as a Joint Bookrunner for the IPO of Renaissance Insurance, which raised around $250 million in new capital as it became the first Russian insurance company to go public via a fully-marketed international offering and the first company to price the IPO among several Russian companies seeking to go public this fall.
The shares started trading on Moscow Exchange under the ticker “RENI”. Renaissance Insurance had a market capitalisation of RUB 66.8 billion at the start of trading.
Alina Sychova, Sova Capital’s Head of Capital Markets Origination, said:
“Russian and global capital markets are seeing high levels of activity, so investment stories need to stand out from the crowd to capture investor attention. We continue to bring new and interesting stories to the global investment community, and are delighted to have supported Renaissance Insurance Group, a digitally enabled pioneer in the fast-growing Russian insurance market, to successfully raise new capital to finance its future growth.”