Russian jeweller Sokolov still planning IPO, location uncertain

Russian jeweller Sokolov is still planning to hold an initial public offering (IPO) in the next two years, the TASS news agency quoted the company’s co-owner as saying on Monday, but the location has yet to be decided.

Managing partner and co-owner of the jewellery firm, Artem Sokolov, told Reuters in November that the company was planning a dual listing in New York and Moscow in 2023.

But geopolitical uncertainty and Western sanctions on Russia’s financial sector since Moscow sent tens of thousands of troops into Ukraine on Feb. 24 have forced many companies to put plans on ice. At least 10 firms had been planning listings in 2022.

“Regarding the IPO,” TASS quoted Sokolov as saying. “We are not abandoning our plans, we are continuing to prepare so that in one to two years this will happen, but on which platforms this will be is an open question. Everything will depend on the market.”