City & Corporate: Industry cautious despite listings work

A further trio of Russian firms have announced their intention to list in London, but concerns persist that the flurry of pitches for listing mandates may fail to lead to a glut of new successful floats.

FD and R Holloway & Associates have benefited from three Russian firms looking to list on the London Stock Exchange, with more announcements likely to follow.

FD has picked up the IPO mandates of residential property firm Euroset and mobile phone retailer Etalon, while Holloway will work with Russian bank Nomos.

Additionally, power transmission firm Federal Grid Company listed its global depository receipts in London on Monday using College Hill.

These listings join Russian sugar and pork producer Rosagro and UK vacuum manufacturer Edwards, which is using Maitland for its forthcoming £1.3bn float.

Both media reports and industry experts have predicted a significant upturn in new listings in the second and third quarters. Agency bosses said 2011 had seen significant pitching activity for international firms eyeing London IPOs, but warned that this was no guarantee such transactions would come to light.

One agency MD noted that military conflict, political instability and natural disasters had rocked the markets.

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