Media Coverage
Source: Real Deals
Media Coverage
02.10.13
James Campbell, a partner in Pillsbury’s corporate and securities practice in London, is quoted in an article about the Moscow Exchange’s plans to raise $500 million by preforming an IPO on itself later this year.
Commenting on the Moscow Exchange’s recent infrastructure and IT upgrades as well as its promise to raise its dividend by 50% over 2013 and 2014, Campbell said, “The Russian financial markets are gradually becoming more integrated with international financial markets….If investors are comfortable with mechanisms for issues such as settlements and custody, and that risks and trading issues can be satisfactorily dealt with in a Russian context, then I feel capital will flow into the market.”
Campbell also addressed Russia’s problem with being too reliant on natural resources. “If Russia can diversify away from the petrochemical and natural resource sectors to produce world-class companies in other areas, then money will be attracted into the market and that will resolve some of the liquidity issues.”
“The big issue is how Russia responds to these issues,” Campbell concluded. “Will there be a gradual liberalisation, or will the lid be slammed on the tin only for it to blow off?”