London's Russian IPOs
Russian companies prefer to list their shares in London
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German Pikhoya, chief executive officer of Polyus Gold International, has a simple explanation for why Russia’s largest gold miner is switching its main stock listing to London from Moscow later this year. “Because our investors are there,” he says. His decision is unwelcome news for Vladimir Putin, who began his third term as Russia’s president on May 7. Putin and his predecessor, Dmitry Medvedev, have been trying to turn Moscow into a global financial center, in part to diversify Russia’s economy away from its reliance on oil and other resources.