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Russian PIK Group’s CEO touts possible modular construction IPO, Real Estate News, ET RealEstate

Russian PIK Group's CEO touts possible modular construction IPO, Real Estate News, ET RealEstate
MOSCOW: Russia’s homebuilding giant PIK Group may hold an initial public offering (IPO) of its modular construction business after turning it into a separate unit, the group’s controlling shareholder and Chief Executive Sergei Gordeyev said on Friday.

The creation of the new unit and subsequent share offering could happen in 2023-24, a company spokesperson told Reuters.

The announcement comes amid a recent boom in Russian IPO activity that ended several barren years after the West imposed sanctions on Moscow over its annexation of Crimea in 2014.

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