Russia Plans Major Stock Market Expansion with New State-Owned IPOs
Russia is preparing to expand its stock market today by listing more state-owned companies. Officials are now compiling a register of firms set to go public in the coming years. The move follows a series of high-profile debuts in 2025 and aims to boost market growth by 2030.
In 2025, three major companies entered the Russian stock market: IT developer Basis, construction firm GloraX, and Jetland Holding. These listings marked the start of a broader push to increase market activity.
According to Vitaly Sergeichuk, a board member at VTB, over ten Russian companies are now preparing for initial public offerings (IPOs). The government will decide which firms make the final list and how much of their shares will be sold—either a controlling stake or a smaller portion. Sberbank has forecast that at least five companies could list on the stock market in 2026, potentially doubling the proceeds from 2025. This follows a successful year in 2023, when the state raised 112 billion rubles from asset sales—surpassing its 100 billion ruble target. The long-term goal is to raise the capitalisation of Russia’s domestic stock market to 66% of GDP by 2030. No Russian firms have yet been named for 2026 listings, though international defence company KNDS has announced plans to list in Paris and Frankfurt.
The government’s push for more IPOs reflects a strategy to strengthen Russia’s financial markets. With multiple companies in the pipeline and a clear revenue target, officials aim to build on recent successes. The outcome will depend on market conditions and investor demand in the years ahead.
