Russia accelerates state-owned IPOs to expand its stock market dominance
Russia is pushing ahead with plans to expand its domestic stock market today by listing more state-owned companies. The government has already raised billions from recent share sales, with further listings expected in the coming years. Officials aim to boost market growth and attract new investors through these moves.
In 2025, the Russian government collected 112 billion rubles from selling state assets—surpassing its target of 100 billion rubles. One of the biggest deals was Dom.RF’s IPO in November, which brought in 25 billion rubles. The state retained control of the company while offering shares to the public.
More than ten firms are now preparing for stock market debuts, according to Vitaly Sergeichuk, a board member at VTB. Some will keep a majority stake, while others may sell smaller portions. The goal is to lift Russia’s stock market capitalisation to 66% of GDP by 2030. Last year saw three companies—IT developer Basis, construction firm GloraX, and Jetland Holding—list on Russian exchanges. Sberbank predicts at least five more could follow in 2026, potentially doubling the funds raised in 2025.
The government’s push for more IPOs signals a drive to strengthen Russia’s financial markets. With multiple listings planned, officials expect higher capital flows and increased investor activity. The strategy also includes maintaining state influence in key sectors while opening them to public investment.
