Published on: 2026-04-27
Source: Central Bank of Russia – Central Bank of Russia –
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Bank of Russia and Ministry of Finance of Russiarecommendcompanies that intend to obtain public status should start preparing systematically and thoroughly in advance for their initial public offering (IPO). This will provide the opportunity to restructure internal processes, the corporate governance system, and also objectively assess the organization’s long-term prospects and determine the development strategy.
Recommendations are addressed to companies with state participation, but can serve as a guideline for other joint-stock companies.
The document represents a set of consecutive steps that necessarily must be taken before an IPO. The entire process can be divided into three stages. At the first stage, it is necessary to analyze the state of the company, understand how well it meets the requirements of a public company’s activities, and also assess the transparency of the organizational structure.
At the second stage, it is necessary to carry out a transformation of the corporate governance system, paying special attention to the formation of the board of directors. In addition, it is important to develop a strategy to increase shareholder value, adopt a management motivation program, prepare financial and managerial reporting for a wide range of stakeholders, and also define an information policy.
The final stage is the direct preparation for the IPO. Here it is necessary to promptly complete several tasks at once: to draft the prospectus of securities, disclose information about the issuance, conduct the listing, and prepare the marketing campaign. Then the organization will be able to monitor the market situation in order to determine the optimal time for the commencement of organized trading.
Following these recommendations will allow companies to increase the effectiveness of attracting long-term investments and to build trusting relationships with investors.
Together with the organizations, they may at their discretion supplement the instruments listed in the joint letter of the Bank of Russia and the Ministry of Finance of Russia with other practices for preparing for the IPO, taking into account their own activity profile.
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