Element Group has decided on the platform for the initial public offering - it will be SPB Exchange, sources told RBC Investments. Group's parent legal entity, JSC Element, is under blocking sanctions imposed by the United States. Earlier, Anatoly Aksakov, chairman of the State Duma's Financial Market Committee, said that SPB Exchange could become a platform...

Trading volume on SPB Exchange in 2023 decreased 3.1 times to ₽4.5 trillion, the Bank of Russia said in its 2023 report. Of this, ₽2.7 trillion was accounted for the purchase and sale of shares, depositary receipts and units.

SPB Exchange's RAS loss for 2023 amounted to ₽0.526 billion, down 3.3 times from ₽1.726 billion in the previous year. Commission income fell 33.4% to ₽616.39 million against ₽925.26 million a year earlier. Trading and investment income amounted to ₽0.833 billion, against a loss of ₽1.1 billion a year earlier.

SPB Exchange will focus on the development of the market of issuers under Western sanctions, Evgeny Serdyukov, CEO of the exchange, told RBC Investments. Trading platform has experience in creating new markets and conducting mass IPOs, as well as ready infrastructure to become a key platform for the placement of securities of such issuers, he said. In additi...