ARFI Herald #10 – The Russian Investor Relations Society Herald – Nov-Dec 2014 edition

-

#10 - / 2014

2

, -

, .

:

- - : www.arfi.ru

- - :

www.interfax.ru

www.moex.com

www.e-disclosure.ru

www.unipravex.ru

www.ifru.ru

www.sroarmo.ru

- :

Facebook - https://www.facebook.com/groups/arfi.news

LinkedIn - http://www.linkedin.com/groups?gid=1025317

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, : . 11703/0220812576

. 11735/0220812500

. 11711/0220812584 Zoran Design

, /, . !

IR- ( )

( 5310+ )

( !) - :

[email protected]

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!

3

/ #10 ( - 2014)

, 2015 ! , , !

, /

. :

.

( ..

? ? -

):

(ADR) -

,

Agrocultura ()

,

,

,

Rose Group ( RGI International)

(AIM),

"-"

,

DP World

.

2014

$4 . , IPO,

IPO, SPO .

! Alt +

4

IPO

- ( IPO):

IPO

,

851 186,6 339 47,4

, % 39,8% 25,4%

: Ernst & Young, 2014

, :

""

( 2014);

, ,

""

2015 , SPO,

""

, $1 2015

SPO ,

""

.

/ - 2014 :

Polyus Gold,

. 2013 Polymetal.

("").

Acmero Capital 40%

.

. Acmero Capital Acmero Fund I.

.

.. .

-03 - -12 3 10

, 50 .

( )

Industrial & Commercial Bank of China (ICBC)

.

Yota Devices $100 ,

.

:

.

: .

. !

5

/ #10 ( - 2014)

...................................................................................................................................... 18

: & .......................................................... 19

.................................................................................................... 29

............................................................................................................................................ 30

2014. 613 ,

[01.12.2014] ................................................................................................................................30

XVII Polymetal

International [20.11.2014] .........................................................................................................................................32

- 2014

10'000 [15.12.2014] .............................................................................................................................34

VII IR- 2014 IR-

[18.12.2014] ....................................................................................................................................................................35

""

[ 2014] .....................................................39

IR- .............................................................. 40

: [12.12.2014] ......40

"

2014" [12.12.2014] ....................................................................................................48

.......................................................................................................................................................... 52

Nord Gold ...............................................................52

.................................................................................................................................52

: GetTaxi Intel Capital /

....................................................................................................................................................................53

! Alt +

6

IPO ............................................................................................... 59

KEGOC IPO - [31.12.2014] ...................................61

2014: - [27.12.2014]

...............................................................................................................................................................................................62

"" 2015 [05.12.2014] .....................................63

[24.12.2014] ........64

IPO 2015 [24.12.2014] ......................................................65

- IPO [24.12.2014] ...................................................................67

$1 - [26.11.2014] ................69

Evraz NA [23.12.2014] ............................................................................................................70

10 IPO 2014 [22.12.2014] ................................................................................................70

Evraz 278 . [21.12.2014] ......................................................................73

Evraz NA - [16.12.2014]..............................................................................74

:

[17.12.2014] ....................................................................................................................................................................76

, [17.12.2014] ...............................................78

: "" [12.12.2014] ........79

: "" [11.12.2014] ............80

56 101, 25 . [12.12.2014] .....................................80

IPO - [11.12.2014] .........................................................................82

"" [03.12.2014] .................................................................................83

IPO 2015 : Dropbox, Uber, Spotify [25.11.2014] .................................84

[20.11.2014] ......................86

IPO [20.11.2014] ....................................................................................87

43% IPO [18.11.2014] ............................88

"" [11.11.2014] .88

IPO -

[07.11.2014] ....................................................................................................................................................................89

IPO 25 49% [04.10.2014] ..............................................................90

IPO [03.10.2014] .............................................................................................91

"" short-list IPO [07.08.2014] ......................................92

DIGITAL IR................................................................................................................................................................................. 93

IR-: ? ..........................................................93

7

/ #10 ( - 2014)

"" : , ............................................................ 95

: ............................................................................. 102

Investor Relations Officers Aspire to CFO Role [26.06.2014] .................................................................... 102

II - [31.12.2014] ................. 103

: --

" "

[30.12.2014] ................................................................................................................................................................. 108

Acmero Capital 40% [30.12.2014] ........................................ 111

"" China Development Bank Corporation $500

[29.12.2014] ................................................................................................................................................................. 112

[29.12.2014].......................................... 112

"" [26.12.2014]............................................................. 114

[26.12.2014]................................................ 115

SWIFT [26.12.2014] .......... 116

57% [25.12.2014] .......... 116

Polyus Gold [26.12.2014] .................................................. 117

Polyus [23.12.2014] ....................................................................................................... 118

[26.12.2014]......................................... 119

""

[25.12.2014] ................................................................................................................................................................. 121

: [25.12.2014] .......................................... 121

20 [25.12.2014] ................................................................................ 122

, [25.12.2014] .......................... 123

[25.12.2014]

............................................................................................................................................................................................ 126

- -

[23.12.2014] ................................................................................................................................................................. 128

"" [22.12.2014] ............................ 129

USM [19.12.2014] ................................................... 131

Agrocultura

[18.12.2014] ............................................................................................................................. 132

[12.12.2014] .................... 133

"" 26%

[12.12.2014] ................................................................................................................................................................. 134

[12.12.2014] .................. 134

8

380 [12.12.2014] ............ 135

"" [12.12.2014] ....................................... 136

"" ""

[12.12.2014] ................................................................................................................................................................. 137

"" [12.12.2014] ............................... 138

,

[12.12.2014] ............................................................................................................................................... 139

Wargaming: [10.12.2014] ............... 145

World of Tanks (

) [09.12.2014] ......................................................................................................................................... 146

,

2014 [10.12.2014] ................................................................................................................. 147

25% 1/2

[10.12.2014] ................................................................................................................................................................. 147

500

[10.12.2014] ................................................................................................................................................................. 149

[10.12.2014] ............ 149

-03 - -12 3 10 [08.12.2014] .. 150

[08.12.2014] .... 151

: , ,

[06.12.2014] ................................................................................ 153

[05.12.2014] .................................... 156

"" [05.12.2014] ............................................................................. 156

[04.12.2014] ................................................................................................................................................................. 158

Yota Devices $100 [04.12.2014] ..................... 159

// M&A

[04.12.2014] ................................................................................................................................................................. 159

, [02.12.2014] ......... 161

[02.12.2014] .................................................. 163

" " [02.12.2014] ................ 166

[02.12.2014]

............................................................................................................................................................................................ 167

[01.12.2014] .................................................................................................. 168

[01.12.2014] ............................................................................................... 168

Coal Energy [01.12.2014] ...................................... 170

. - [01.12.2014] ........................... 171

[ ] [01.12.2014] ............................... 172

9

/ #10 ( - 2014)

5 [28.11.2014] ............................................................................................. 188

[29.11.2014] .............................. 192

IPO [28.11.2014] .................................................................. 193

!

[28.11.2014] ................................................................................................................................................................. 193

[27.11.2014] ...................................................................................................................... 195

[28.11.2014] ................... 199

: 58% [27.11.2014] .................................................................. 199

[27.11.2014] ......................................................................................................................... 200

[27.11.2014] ........................................................................ 204

? [27.11.2014] .................................... 206

-

[27.11.2014] ................................................................................................................................................................. 209

"" [26.11.2014] ......................................................................... 209

[26.11.2014] ............................... 211

Alibaba [26.11.2014] ........................................................................... 212

: [26.11.2014]213

: LSE [26.11.2014] ....... 213

"" [26.11.2014] .................................................. 214

0,5 .

[25.11.2014] ..................................................................................................................................... 215

: [25.11.2014] ...................................................... 216

[24.11.2014] ..................................... 218

[23.11.2014] ............................................................... 218

[24.11.2014] ................................................................................................................................................................. 219

"-" [21.11.2014] ................. 221

DP World [21.11.2014] ........................................................................................... 221

500 . . [21.11.2014] ..... 222

[21.11.2014] ............................................................ 222

" " - [21.11.2014]223

[20.11.2014] .... 224

[20.11.2014] ................................................................................................................................................................. 224

"" [19.11.2014] ......................................................................... 226

10

- [19.11.2014]

............................................................................................................................................................................................ 227

[19.11.2014] ................... 228

,

[19.11.2014] ............................................................................................................................................. 229

[18.11.2014]230

-

[19.11.2014] ............................................................................................................................................... 230

[17.11.2014] .................................. 232

Ruspetro [14.11.2014] ................. 233

[12.11.2014] .............................. 234

: LSE [12.11.2014] .......... 235

? [12.11.2014] ...................... 235

- 31% -

$340 . [12.11.2014] ........................................................................................................................................... 240

KASE

[12.11.2014] ..................................................................................................... 240

. [11.11.2014] ... 241

? [26.12.2014; ] .......................... 241

SWIFT 15 [11.11.2014]............................................ 245

[11.11.2014] .......................................................................................................... 246

: "" [11.11.2014] .................................................................. 256

-

[11.11.2014] ............................................................................................................................................... 258

[10.11.2014] .......... 259

, [10.11.2014] ................................................................................. 261

[10.11.2014]

............................................................................................................................................................................................ 263

VI Holding 20% [06.11.2014]264

2015

[06.11.2014] ................................................................................................................................................................. 264

SPO [09.11.2014].................................... 265

, ""

[09.11.2014] .............................................................................................................................................. 266

"", "" "" [08.11.2014]266

[07.11.2014] ................................................................... 267

[07.11.2014] ................................... 267

"" [07.11.2014] ................................ 269

11

/ #10 ( - 2014)

: , ......................................................................................................... 270

" " , [30.12.2014]

............................................................................................................................................................................................ 271

[ 2014] ..................................... 271

[30.12.2014] ..................................... 276

[29.12.2014] ................. 277

1

[27.12.2014] ................................................................................................................................................................. 278

[23.12.2014] ........................... 279

[22.12.2014] ....................................... 280

[22.12.2014] .............................................................. 281

[19.12.2014] ................................................................................................................................................................. 282

[19.12.2014] ................................................................................................................................................................. 283

[19.12.2014] ............................................................................................................................................. 283

:

[18.12.2014] ................................................................................................................................................................. 284

[18.12.2014]285

Al Baraka [12.12.2014] .................................................................. 286

-

[16.12.2014] ............................................................................................................................................ 286

[12.12.2014]........................................................................... 287

[12.12.2014] .................................... 288

[11.12.2014] ................................................. 288

: , ,

[06.12.2014] ................................................................................ 296

[28.11.2014] ..................................... 299

[26.11.2014] .................................................................................. 302

[25.11.2014] ................................ 302

, [25.11.2014] ............................................... 303

[23.11.2014]. 305

. , [21.11.2014].................. 306

[18.11.2014] ................................................................................................................................................. 307

[17.11.2014] ..................................................................................................... 308

12

[17.11.2014] ................................................................................................................................................................. 308

25 [15.11.2014].................. 309

[13.11.2014] ............... 310

2015

[12.11.2014] ............................................................................................................................ 311

"" .

[12.11.2014] ................................................................................................................................................................. 312

AAOIFI [11.11.2014] ........................................................... 313

2020

[10.11.2014] .......................................................................................................................... 314

[10.11.2014] ................................................................ 316

[09.11.2014] ................................................................................................................................................................. 318

$200 [07.11.2014] ................................................................................................................. 319

: .................................................................................................. 320

[25.12.2014] ................................................................................................................................................................. 320

- [26.12.2014]320

,

[23.12.2014] ............................................................................................................................................ 322

""

[22.12.2014] ....................................................................................................................................... 323

KPI [15.12.2014] ............ 324

,

[10.12.2014] ............................................................................................................... 324

[10.12.2014] ..................................................................................................................... 325

[09.12.2014] ............................................................................................................................................ 326

[08.12.2014] ................................................................................................................................................................. 327

[04.12.2014] ......................... 328

[04.12.2014]

............................................................................................................................................................................................ 328

,

[04.12.2014] ................................................................................................................................................................. 329

13

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1

3 [03.12.2014] ............................................................................................................................................... 330

[03.12.2014] ....... 331

[24.11.2014] ................................................................................................................................................................. 332

[18.11.2014] 335

1

[12.11.2014] ............................................................................................................................................. 336

: ................................................................................................................ 338

-: [29.12.2014] ........................................................................... 338

SEC EDGAR

[29.12.2014] ................................................................................................................................................................. 339

[26.12.2014] ........................................ 340

" " 96% - SEC [25.12.2014] 342

[23.12.2014] .. 342

10 [15.12.2014] .......................................................................... 343

/ Bankia [08.12.2014] ............ 344

Leipurin IPO - [04.12.2014] .......................................... 346

Twitter [01.12.2014] ........................................................................................................ 346

M&A [28.11.2014] ............. 347

[27.11.2014] ......................... 348

? [26.11.2014].................................. 349

- [26.11.2014] .............................. 351

Apple : $700 [26.11.2014] .......................... 352

Citigroup $15 [25.11.2014] .................................. 352

SEC [20.11.2014] ............................................................................................. 353

5% [19.11.2014] ..................................................................... 354

IPO [19.11.2014] .................................. 355

- Forex ,

[17.11.2014] ..................................................................................................................................... 356

G20 [17.11.2014]

............................................................................................................................................................................................ 357

Twitter [14.11.2014] ................................. 359

Kroll Moody's [14.11.2014]

............................................................................................................................................................................................ 360

CEO [13.11.2014] ............... 360

14

pay-for-performance,

[11.11.2014] ................................................................................................................................................................. 361

Transparency International

[10.11.2014] ................................................................................................................................................................. 362

: ............................................................................................................ 363

[31.12.2014] .................................... 363

[31.12.2014] ............................................................................................................................................ 365

[31.12.2014] ....... 365

[31.12.2014] ................................................. 366

2014 120

[30.12.2014] ................................................................................................................................................................. 367

[29.12.2014] ..... 368

- [29.12.2014] ....... 368

31

[23.12.2014] ................................................................................................................................................ 369

[22.12.2014] ........................................... 369

:

[19.12.2014].......................................................................................................................................... 370

[16.12.2014]..................... 371

: ,

, $24,67 . [16.12.2014] ......................................................................................... 373

[14.12.2014] ............. 374

,

[14.12.2014] .............................................................................................. 374

[13.12.2014] .............................................................................................................................. 375

[12.12.2014] .................................................... 376

45,1 - 2014 [12.12.2014] ..... 377

[28.11.2014] ....................................................................................... 377

2015 [11.12.2014]...................................................... 378

: ""

[05.12.2014] ................................................................................................................................................................. 378

HSBC: - [04.12.2014] ........................................................ 379

[24.11.2014] ........................................ 380

? [11.11.2014] ............................................................................................ 380

[10.11.2014] ............... 382

15

/ #10 ( - 2014)

[09.11.2014] ....................................................... 382

[01.12.2014] ....... 383

[09.11.2014] ................................ 384

[30.11.2014] ...................... 385

[30.11.2014] ............................................................................... 385

, [26.11.2014] .. 386

IPO 3 . [20.11.2014] .......................................... 387

[09.11.2014] .............................................. 388

[06.11.2014] .............................. 389

$40 [08.11.2014] . 390

: 2014 - 2015 ........................................ 391

.............................................................................................................................................. 395

16

:

: , . , :

,

, Financial One

, ,

,

IR :)

IR-

Facebook:

https://www.facebook.com/groups/arfi.news

LinkedIn:

http://www.linkedin.com/groups?gid=1025317

17

/ #10 ( - 2014)

- , ,

- , ,

- RLM Finsbury (), ,

- -, ,

- , Head of IR,

- , Head of IR,

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"", 27 2014 .

18

>>>

[ : 10.01.2015 ]

5 310 IR, , [ 10 - ; (44); , ]

619 IR- ( 506)

11 700 - [ 9 ; : ]

3 900 - - SlideShare ()

[ 30 , IR- 2014 (20 ), (15 ) (19 ) ]

241 "" Facebook https://www.facebook.com/groups/arfi.news

502 "" LinkedIn http://www.linkedin.com/groups?home=&gid=1025317

- IR-, 15 : "- : " RUS: https://vimeo.com/ondemand/19516

ENG: https://vimeo.com/ondemand/19455

- IR-, 19 : " : "

RUS: https://vimeo.com/ondemand/22043

[ - , , - Vimeo ]

19

/ #10 ( - 2014)

: & >>>

,

1.

USD/RUB EUR/RUB

/RUB EUR/USD

32,73

41,96

56,26

30,00

40,00

50,00

60,00

70,00

44,97

52,72

68,34

40,00

50,00

60,00

70,00

80,00

90,00

38,24

46,80

61,70

35,00

45,00

55,00

65,00

75,00 1,38

1,25 1,21

1,20

1,25

1,30

1,35

1,40

20

2.

LIBOR 3M (USD), % LIBOR 6M (USD), %

EURIBOR 3M, % EURIBOR 6M, %

MOSPRIME 3M, % MOSPRIME 6M, %

0,246 0,232

0,256

0,000

0,050

0,100

0,150

0,200

0,250

0,300

0,348

0,328

0,363

0,310

0,320

0,330

0,340

0,350

0,360

0,370

0,287

0,085 0,078

0,050

0,100

0,150

0,200

0,250

0,300

0,350

0,389

0,189 0,171

0,150

0,200

0,250

0,300

0,350

0,400

0,450

7,15

11,7

23,77

6

10

14

18

22

26

30

7,26

11,88

24,3

6

10

14

18

22

26

30

21

/ #10 ( - 2014)

3.

Dow Jones Industrial Average FTSE-100

1 504 1 491

1 397

1 200

1 300

1 400

1 500

1 600 1 443

1 078

791

700

900

1 100

1 300

1 500

16 577

17 366

17 823

15 000

15 500

16 000

16 500

17 000

17 500

18 000

6 749

6 488

6 566

6 200

6 300

6 400

6 500

6 600

6 700

6 800

6 900

22

4.

Euro-Cbonds IG Russia YTM eff (USD), % Euro-Cbonds IG Russia EUR YTM eff, %

Euro-Cbonds IG Russia RUB YTM eff, % bonds-CBI RU 3-5Y YTM eff, %

5.

Brent, USD/ , USD/

4,83

6,03

9,2

4

6

8

10

12

3,11

4,51

8,04

3

6

9

12

8,03

12,31

22,39

7

9

11

13

15

17

19

21

23

25

9,22

12,6

17,49

8

10

12

14

16

18

20

111

86

58

55

65

75

85

95

105

115

1 206

1 164

1 206

1 100

1 200

1 300

1 400

23

/ #10 ( - 2014)

6. - 2014

M/S&P/F

, 2015-4 (LPN36)

05.11.2014 12.11.2015 Baa1/BBB-

/BBB 700 USD

4.3% 4,45

-, 2025 (LPN)

13.11.2014 18.02.2025 Ba1/BB+/B

BB- 250 USD

18.02.2020 9.5% 9,5

-, -02

13.11.2014 29.10.2021 3 . 08.11.2017 1-6 12% , 7-14 - .

12,36

, -01

14.11.2014 08.11.2019 5 . 18.11.2015 1-2 - 10.5% , 3-10 - .

10,78

-, -36 17.11.2014 23.10.2024 7 . 03.11.2021 1-14 - 10% , 15-20 - .

10,25

, 01 18.11.2014 10.11.2020 250 . 1-12 - 8.5% 8,68

, 01 20.11.2014 13.11.2019 5 . 1-10 - 9% 9,2

, 2025, RUR

21.11.2014 26.05.2025 B1/BB-/BB 5 .

26.05.2020 16.5%

, -11

26.11.2014 20.11.2019 /BBB-/BBB

5 . 30.11.2015 1-2 - 12% , 3-10 - .

12,36

, -01

27.11.2014 21.11.2019 5 . 01.12.2015 1-2 - 10.5% , 3-10 - .

10,78

, -02

28.11.2014 22.11.2019 //B+ 3 . 01.12.2015 1-2 - 13% , 3-10 - .

13,42

, -01 28.11.2014 22.11.2019 Withdrawn/

B/ 2 . 02.12.2015

1-2 - 13% , 3-10 - .

13,42

, -06 28.11.2014 22.11.2019 Withdrawn/

B/ 1 . 02.12.2015

1-2 - 13% , 3-10 - .

13,42

-, -37 01.12.2014 11.11.2024

2 . 22.11.2021 1-14 - 10.5% , 15-20 - .

10,78

-, -15 02.12.2014 13.11.2029 Ba1/BB+/B

BB- 5 . 02.06.2016

1-3 - 13.25% , 4-30 - .

13,69

(), 03

02.12.2014 19.11.2024 A3//BBB- 4 . 05.06.2015 1 - 12.25% , 2-20 -

12,63

, 02

02.12.2014 01.06.2025

1 .

1 - 11% , 2

10,58

, -04

04.12.2014 28.02.2017 Ba3/BB-

/Withdrawn 10 . 04.03.2015

1-2 : 9.3% , 3-6 -

9,52

- , -08

04.12.2014 25.11.2021 /BBB-/ 10 . 07.12.2015 1- 4 - 12.75% , 5-28 - .

13,37

2014-3, 1

08.12.2014 16.06.2047

3 .

1-130 - 9% 9,3

2014-3, 2

08.12.2014 16.06.2047

1,5 .

1-130 - 3% 3,03

2014-3,

08.12.2014 16.06.2047

0,5 .

-2,

08.12.2014 01.07.2047

4,4 .

1 - 9%

9,32

-2,

08.12.2014 01.07.2047

2,2 .

1-131 - 3% 3,04

-2,

08.12.2014 01.07.2047

0,7 .

24

M/S&P/F

, -04 10.12.2014 07.02.2020 Withdrawn/

B/Withdrawn

5 . 18.02.2015 1-2 - 12% , 3-12 - .

12,36

, -05 10.12.2014 02.12.2020 Withdrawn/

B/Withdrawn

2 . 14.12.2015 1-2 - 14% , 3-12 - .

14,49

24 (), 7-,

10.12.2014 06.12.2044

Ba1/Withdr

awn/Withdr

awn

3,8 .

1-120 - 9% 9,32

24 (), 7-,

10.12.2014 06.12.2044

Ba1/Withdr

awn/Withdr

awn

1,9 .

1-120 - 3% 3,04

, 1-,

10.12.2014 27.04.2048 Ba1/BBB-

/BBB- 4,7 .

1- 134 - 9% 9,33

, 1-,

10.12.2014 27.04.2048 Ba1/BBB-

/BBB- 2,3 .

1-134 - 3% 3,04

2014, B

11.12.2014 31.03.2047

0,6 .

2014,

11.12.2014 31.03.2047

2,3 .

1-129 - 9% . 9,25

2014,

11.12.2014 31.03.2047

1,2 .

1-129 - 3% 3,03

, 10.06.2016, EUR

11.12.2014 10.06.2016

0,9 EUR

02.02.2015 9% 9

, -02 11.12.2014 28.11.2024 Baa2/BBB-

/Withdrawn 15 . 11.12.2017

1-4 - 11.9% , 5-6 - 10.9% , 7-20 - .

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64

[24.12.2014]

/Trend/ - () . " " .

, 2,5-5 Free Float , - , Free Float .

", - . IPO ( ). , . ", - .

, , ( ). " , 800 . , , . , . , 500 ", - .

, , , Free Float.

, , .

( ) Demir Bank, ( ) - "Embawood".

(: . : )

http://www.trend.az/business/economy/2347264.html

65

/ #10 ( - 2014)

IPO 2015 [24.12.2014]

2014 IPO . 2015 IPO , . EY IPO IV 2014 .

EY, IPO : 2014 1 206 256,5 . 35%, - 50%.

, 2014 2010 , , 2014 . 2014 , .

2014 IPO, . , - , EY . - IPO : 17,1%, 12,3% . 2014 IPO 2007 , , - .

2014 IPO, , , , , 2006-2007 . 328 IPO, 27% , 124,4 , (48%) IPO. 2001 .

2014 . 129 IPO, 10,7% 2007 . 52% 23,3% , . (22% ), (9%), (4%), (2%) (1%). , .

66

2014 , , 133%, (27,8%), (4%) (-0,3%) .

. , 2014 IPO . IPO - , EY IPO .

2015 IPO . , , . , , 2015 , 2014 , 50 . 2015 , 2014 .

: , 2015 : IPO, , . , , . , , .

, , , IPO, . 2015 , 2016 .

http://fd.ru/news/41271--usloviya-dlya-ipo-a-hrefv-2015-godu-budut-blagopriyatnymia?from=news_ya_rss

67

/ #10 ( - 2014)

- IPO [24.12.2014]

KEGOC 16,7

(KEGOC) 16,7 1,3 . , , 9,7 (73,7% ), () 7 (53,3% ).

, 2012 IPO , 60% . 34 . . , , 25% .

, IPO, -. , .

, , , , . , , , . , 61 945 , , , . - , . , 1 100. , IPO 600-650 , .

, , Private Asset Management, , , , , , , . , KASE. IPO , .

, IPO - : , , KEGOC.

IPO , , Halyk Finance, IPO, ,

68

, . , -, , , , , . , . , -, .

, , , IPO -. , , Halyk Finance, . , . , , -. , , , , , .

, Halyk Finance, - . - 2009-2015 , 2015 . - , , , . , Halyk Finance .

69

/ #10 ( - 2014)

IPO, Halyk Finance, , . , , IPO - , , .

IPO -, , , , . , , ( ). 2013 , EBITDA. 2014 . 9 10,8 28,9 .

http://kapital.kz/details/36165/prognozy-po-vyhodu-samruk-energo-na-ipo.html

$1 - [26.11.2014]

. - $1 - . - .

196 . 1 , , , .

- . 30% , , IPO , - .

http://www.inform.kz/rus/article/2720817

70

Evraz NA [23.12.2014]

Evraz, Evraz North America (ENA) , . Evraz North America Plc.

Evraz IPO , Evraz North America, . , Evraz - . , .

Evraz North America , 25-35% . . , Evraz North America 1,5 . .

Evraz - , , , , . EVRAZ North America : Oregon Steel, Rocky Mountain Steel, Claymont Steel IPSCO.

http://www.maonline.ru/mna/25823-evraz-na-stala-publichnoy.html

10 IPO 2014 [22.12.2014]

(IPO) , .

IPO $257,7 , 49% , . 2010 . Dealogic.

Alibaba Group $25,0 - . IPO . Alibaba , IPO $22,1 2010 .

, , , .

IPO , , $59,9 2014 . $11,0 . IPO 2000 . IPO $38,5 , 2013 . $19,2 .

71

/ #10 ( - 2014)

10. Truecar

IPO: $70

: $9,70

: $21,22

Truecar . : 12% .

9. Zendesk

IPO: $100

: $11,40

: $24,54

Zendesk , . IPO Renaissance Capital.

8. Coupons.com

IPO: $168

: $32,43

: $15,70

, online. 1998 . Coupons.com , .

7. GrubHub

IPO: $200

: $40

: $35,56

online- , . 2013 . : GruHub Seamless. IPO.

GruHub 50%, 17%. , . , GrubHub online.

6. OnDeck Capital

IPO: $200

: $26,63

: $25,67

72

On Deck Capital - , . , , , . .

On Deck Capital . , 6 . -.

5. Virgin America

IPO: $306

: $27

: $33,79

Virgin America NASDAQ. Virgin America SpaceShipTwo Virgin America . , , .

4. GoPro

IPO: $425

: $31

: $57,09

GoPro, , 2002 .: , .

GoPro , GoPro, Inc., 2014 . Woodman Labs, Inc. (-, ). GoPro - , /. . .

3. King Digital Entertainment

IPO: $500

: $20,50

: $16,50

King Digital Entertainment - Candy Crush. 80% , , .

2. Lending Club

IPO: $870

73

/ #10 ( - 2014)

: $23,43

: $26,94

P2P- . . , , .

1. Alibaba

IPO: $22 billion

: $92,70

: $108

Alibaba IPO , $25 , Visa $19,7 General Motors $18,1 . Alibaba, : . IPO .

http://www.vestifinance.ru/articles/51203

Evraz 278 . [21.12.2014]

Evraz Group SA 277,752 . Evraz plc. .

, - "" 576 . . , 17 , 1005 . 1000 .

22 . 12 2015 "-" - 975 . 15 .

Evraz Group SA. 2005 8,25%. 10 2015 . , tender offer, . - , Evraz.

Evraz I 6,095 ., EBITDA. Evraz IPO 25-35% Evraz North America,

74

400-500 . , 2015 .

http://minprom.com.ua/news/172686.html

Evraz NA - [16.12.2014]

IPO

Evraz NA - .

,

,

$2,3

Severstal Columbus Severstal Dearborn.

:

$1,1 .

( 79,2% )

$790 .

, Evraz

Evraz North America (Evraz NA)

- (NYSE),

Bloomberg .

, Evraz, . ,

(Evraz NA , ).

, Evraz NA NYSE

2015 ., Bloomberg.

Evraz 2014 . 25-35% Evraz

NA.

(SEC).

Reuters, $400 ,

Bloomberg $500 . ,

, .

. -

IPO Evraz NA SEC . Evraz

IPO .

IPO Evraz NA

, .

,

2014 ., ,

75

/ #10 ( - 2014)

IPO . ,

, 10 EBITDA .

2015-2016 .

, . , ,

, Evraz

Evraz NA.

, Evraz, ,

, ,

(. ).

, .

Evraz NYSE

. $6,1

. EBITDA 5,5,

7,2.

Evraz 75% , ,

, .

$1,2 , 2016 . $1,3 .

Evraz ,

,

.

Evraz $425

, Evraz NA $350 ,

RMG . , II

Evraz $1,4 .

, IPO

, .

Evraz

$576

2015 .,

.

100,5% ($1005 ),

17 ,

97,5%,

.

http://www.vedomosti.ru/newspaper/article/813771/evraz-na-ne-pojdet-na-birzhu-nyu-jorka

76

: [17.12.2014]

Bloomberg , , .

" 144 , . , , , 1200 20% , .

- : , 50 , .

, , , . , . Apple - -, , . iPhone 39990 , 847 . 585$.

, . 3 McDonald's 2,2% ( 94 ) 1,77 1,35 . Renault 8% .

. , , , . , , 1998. , .

30 , , 10 , , , Chanel.

, , , , , Euromonitor International. : .

77

/ #10 ( - 2014)

, , . , , , .

, Metro AG, IPO . , , , . IPO, .

Apple McDonald's . , Oriflame Cosmetics , . Geely Automobile Holdings , 50% 2014 . Pepsi Inc , , , .

. Inditex SA, , Zara . MediaMarkt, ( --), - . , - , MediaMarkt. , 68 , .

" , "

, , , , . , , - , . . , , .

Gedeon Richter, , , , , . , : 24% 2014 .

Renault Nissan Motor Co , : 2014 . Renault, Nissan, 11 2014 8,4%. Renault , .

78

, , Renault . , , .

, , 2015 .

Tom Beardsworth Ilya Khrennikov Bloomberg. MilkySun

https://www.mql5.com/ru/blogs/post/248499

, [17.12.2014]

- IPO,

.

?

- ,

.

. , , ,

. ,

. , -

,

.

- ,

?

- .

, 3 EBITDA, 3 EBITDA

. ,

. , IPO ,

pre-IPO .

. , ,

3 .

-

?

- . , -

(,

IPO), . ,

. ,

79

/ #10 ( - 2014)

2011 .

, , ,

,

, .

. ,

,

. , .

,

, .

http://www.vedomosti.ru/library/news/37432791/dlya-konechnogo-potrebitelya-situaciya-sejchas-gorazdo

: "" [12.12.2014]

, 19,5% "" , - .

, 12 . 19,5% "" , , .

" "". , , . , . , , , - , , ", .

- .

, "".

, " ", . " "" , . , . , . ", .

19,5% "" IPO 2006 . " IPO" 2006 1,4 10,7

80

, 7,55 ( 203 2006 ). "" , 19,5% 8,12 . 11 213 ( 3,8 ).

http://ria.ru/economy/20141212/1037961018.html

: "" [11.12.2014]

, 11 - . "" , "" .

, , . " . , : , ", - .

. " . , 8,12 . , , ", - .

- 1 19,5% "" .

" IPO" 2006 "" 1,4 10,7 , 7,55 , 203 .

http://1prime.ru/energy/20141211/797805807.html

56 101, 25 . [12.12.2014]

() 12 10 . 56 101,25 . , . , 5,67 .

, . , . . , 12 , 38,4 .

81

/ #10 ( - 2014)

, , , . 56 18 2014 .

Credit Suisse , , , $3,51 , Net Debt/EBITDA 4,2.

Net Debt/EBITDA 2,5 2016 , , . IPO $500 , . , .

, , .

19 , 6% . , . . , , , . - . 3,75 .

2014 $1,526 1% , . EBITDA 6% $202 . , free-float 20,57%. TMK Steel Ltd, , 71,68% . 7,63% TMK Bonds S.A, .

http://www.rbc.ru/rbcfreenews/548b26232ae5964233acd241

82

IPO - [11.12.2014]

50,1% IT- SafeData, . 1,83 . SafeData, , , IPO .

SafeData ( ), , . , . 5,4% SafeData Brennen Investments Ltd 104,2 . 1,73 ., 50,1%. () . SafeData , .

, 100% SafeData 1,93 ., Brennen SafeData 1,73 . 3,7 . Kartoteka.ru, 2013 352 ., 39 . 470 . SafeData , . SafeData 49 . 0,5 . , .

, SafeData, - (400 .), SafeData Ngenix ( , ) MSK-IX ( ) 380 ., SafeData 945 . IPO, . , IPO SafeData, . IPO , (49,9%) SafeData . IPO , , SafeData $200 , . SafeData $70 . , . , DataLine , SafeData . , SafeData

83

/ #10 ( - 2014)

, -.

100% Brennen Investments Ltd, , , . SafeData , 15% . Ngenix MSK-IX , . , SafeData. , SafeData - , , . SafeData, - , . , SafeData , . , SafeData .

, , ,

()

http://www.advertology.ru/article127586.htm

"" [03.12.2014]

"" , . "" IPO 2010 , . , .

"" - "" ( ; 2010 ""), " ", " " ( ), " " (); - "-" Uralchemfreight.

99,9% Uralchem Holding, .

http://www.maonline.ru/mna/25680-uralhim-ne-hochet-vyhodit-na-birzhu.html

84

IPO 2015 : Dropbox, Uber, Spotify [25.11.2014]

, , IPO 2015 .

, 2014 IPO 2000 260 ( 241 2013 ), $86 $74 .

IPO - Alibaba Group (BABA) $25 - , $167 . Alibaba Group 60% . , , IPO: - GoPro (GPRO), - Virgin America.

, IPO, .

Lending Club

P2P- IPO NYSE. , $500 $5-6 .

. : 7 $6 , . , 9 2014 2,2 $143,9 , $23,8 , , 2013 .

, , , , . , .

Dropbox

IPO . , Dropbox 3 2015 . $10,8 , , , IPO $30 .

Dropbox 300 , 4 , , , 2014 $500 , 2015 .

85

/ #10 ( - 2014)

, , .

Microsoft, - Microsoft Office , Windows Phone Dropbox, , 20%.

Box

. Box, $2,5 , IPO , , , .

Box , , 4 (31 2015 ) 2014 , . , , - , .

Dropbox, Box , , 27 270 , 40 . 2013 , 2 $124,2 , , , $168,9 . , IPO, 2014 .

Uber

- . Uber, $18 . Uber , , , .

, Uber $1 , IPO. , , , . , , , IPO Uber 2015 2016 .

Airbnb

, Airbnb. IPO , , $13 , $10 .

86

, , Hyatt Hotels ($8,9 ) Wyndham Worldwide ($9,8 ). , IPO .

Spotify

, $4 IPO, , , .

, SEC, - . , .

, IPO , , . , , ( 2012 . $500 ), , , , Spotify .

http://siliconrus.com/2014/11/ipo-2015

[20.11.2014]

() .

, Day.Az Trend, , IPO ( ).

" 2014 . . , "Embawood", , . ", - .

, 20 . " , 40 . IPO", - .

: Paa Kapital, Standard Kapital, nvestAZ Chealsea Kapital,

87

/ #10 ( - 2014)

KPMG, Baker&Tilly, PwC EY, Dentons Baker&McKenzie.

2011-2020 .

( ) Demir Bank, ( ) - "Embawood". , 17 .

http://news.day.az/economy/536336.html

IPO [20.11.2014]

() , , " (IPO)" .

.

IPO. . , , 20 . , , 20 , - .

IPO .

Golden Pay IPO. 12 . , , - ..

2013 8,475 .

() 2000 . . 19 .

http://www.newsazerbaijan.ru/economic/20141120/301248576.html

88

43% IPO [18.11.2014]

, 18 . Borsa Istanbul, , $262 , 42,75% .

emerging markets , . 29% 40% 120% , "".

Borsa Istanbul 100 20%, MSCI Emerging Markets 1,6%.

http://www.rosbalt.ru/business/2014/11/18/1339026.html

"" [11.11.2014]

, " " , , 100% .

, 11 . " " 2018 , .

, " " , , 100% . " " , .

, . , , , 2018 . , . , .

, . " " " ", .

89

/ #10 ( - 2014)

, , , "". .

, "" . . , , .

, "" "" , IPO "".

http://ria.ru/economy/20141111/1032854451.html

IPO - [07.11.2014]

IPO 2010 , - Ernst & Young.

IPO : 2014 851 186,6 . 49%, 94% EY IPO III 2014 .

. 264 (31% ) 105,3 . (56%