Home BankingShipfinance SCF’s stock market debut commended by Marine Money

SCF’s stock market debut commended by Marine Money

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SCF’s stock market debut commended by Marine Money

Marine Money, an international maritime finance publication, has recognised SCF’s IPO on the Moscow Exchange (MOEX), in October 2020, as The IPO Deal of the Year.

The total net proceeds from the IPO were RUB 38 billion (equivalent to USD 480 million as of the date of issue). The access to a new source of market financing, in the form of equity capital, will enable SCF to sustain growth rates in line with its long-term strategy.

“This was a highly significant transaction, as it represents the largest ever marine transportation IPO in EMEA by market capitalization at IPO and the first priced IPO on MOEX since November 2017, signaling the re-opening of the Russian IPO market,” commented Marine Money. 

The publication notes that the success of the transaction was even more remarkable considering it was executed virtually in its entirety amidst the busiest Q3 IPO pipeline globally on record, and thus rising competition for equity capital available on the market. Against this background, the IPO attracted high demand both internationally, including from sovereign wealth funds, and domestically, including local funds and retail investors.

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