MOSCOW, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Official statement of Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board:
"We are currently seeing a surge of interest in SPAC placements in the international markets. This instrument allows small companies that have not considered a traditional listing on the stock exchange to raise capital to fund their future development. I believe that SPACs can become a catalyst for the growth of the number of Russian public companies and contribute to further expansion of the stock market. This is extremely important for attracting private investment into the economy and increasing the country's investment potential.
"As a leading investment bank in the Russian market, VTB Capital continues to actively offer our clients new instruments and products. We believe that SPACs can be of interest to a large number of potential issuers as a way to access the public equity capital market, as well as for local investors to diversify their portfolios. Therefore, we co-sponsored SPAC Emerging Markets Horizon Corp. and acted as a joint bookrunner on its IPO, becoming the first investment bank in our region to bring institutional SPAC to the market. I am confident that this IPO will open up new opportunities on the Russian stock market.
"The deal generated a lot of interest not only from funds focused on SPAC investments, but also from long-term investors who believe in the fundamental attractiveness of our region and the expertise of the Emerging Markets Horizon Corp. sponsors to find assets, which will attract investors. The total demand exceeded the volume of the IPO several times. More than half of the demand came from US investors; investors from Russia, Europe and Great Britain also participated in the deal."
For reference:
IPO press release: https://www.prnewswire.com/news-releases/emerging-markets-horizon-corp-announces-pricing-of-250-million-initial-public-offering-301440822.html
SEC filings: https://sec.report/CIK/0001865533
VTB Press office
Tel.: (495) 783-17-17
Fax: (495) 783-18-95
E-mail: pr@vtb.ru
www.vtb.ru
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