11 May 2007
USRCCNE Press Release - Results of Financial Conference
US-Russia Chamber of Commerce of New England
For Immediate Release
Cutting to the Chase:
Insights into Public and Private Equity Investment in Russia
Boston, MA, May 3, 2007ЦThe US-Russia Chamber of Commerce of New England (USRCCNE) held its 5th Annual Russian Financial Markets Conference in Boston today. Speakers delivered facts, perspective, and advice to investors and would-be investors on opportunities in Russia, one of the fastest-growing economies in the world.
Against a backdrop of pre-election politics in both Russia and America, important financial deals may not be garnering the headlines, but they continue apace on the ground -- with investment opportunities coming not only from the major cities of Moscow and St. Petersburg, but increasingly from outlying Russian regions.
Jon Edwards of the London Stock Exchange, in his keynote luncheon address, emphasized that Russian companies have matured significantly since 2003, when the Chamber's Russian financial series first began. "Russian companies have grown in their understanding of transparency, international regulatory standards, and in general, how to put together a successful IPO," he said. "The LSE/AIM is attractive to Russian companies for a variety of reasons, and they are attractive to us."
To demonstrate that point, Stephen Polakoff, General Counsel, ZAO "Integra Management", Moscow, described the company's February 2007 flotation on the LSE. "For perspective, it's important to realize that 90% of Russian companies, like their counterparts in the US or the UK, now have outside independent Board Members," Polikoff said. "Of those Board Members, 37% are foreigners."
Increased Russian activity in Foreign Direct Investment is another area of great opportunity for American investors and dealmakers. John Huhs, Professor at Stanford University and founder of LeBoeuf, Lamb, Greene & MacRae offices in Moscow and Almaty, spoke on the abundance of cash in hand in Russia today, and the effect it is having on the development of markets and global synergies. "Russian cash is now chasing returns worldwide," Mr. Huhs said while sharing recent statistics. "Those who pay attention to this new phenomenon can do well."
Other speakers included Mark Banovich, LLGM, Moscow; Keith Silver, US Department of Commerce, St. Petersburg; Catherine Mannick, VP Cole Management and VP USRCCNE; and Daniel Satinsky, President, Bea Associates and President, USRCCNE. LeBoeuf, Lamb, Greene and MacRae, LLP sponsored the event.
For further information, visit www.usrccne.org or contact Kathleen OТDonnell, President, Market Access International, Event Organizer for USRCCNE, at 978-465-1100, email@example.com. This press release may be freely republished, in whole or in part, including the pictures below. For higher quality photos, please contact Renee Stillings at firstname.lastname@example.org. More information about the conference itself may be found at http://www.usrccne.org/events.phtml?n=99.
The U.S.-Russia Chamber of Commerce of New England, Inc. (USRCCNE) is a non-profit business organization for companies and professional individuals involved with economic activity in Russia and the other republics of the former Soviet Union.
London Stock Exchange
Conference Key Note Speaker
LeBoeuf, Lamb, Greene & MacRae
US Department of Commerce