VTB's Sredin outlines bold reforms to revitalize Russia's capital markets at SPIEF 2026

Dmitry Sredin, head of VTB’s Market Industries Client Department, addressed key issues in Russia’s capital markets at the St. Petersburg International Economic Forum (SPIEF) 2026. His remarks focused on improving IPO strategies, investor trust, and the need for stronger domestic participation in public markets. Sredin stressed that a successful IPO requires more than just selling shares—it should mark the end of a thorough business transformation. He warned that poorly timed or overpriced listings can harm investor confidence for years, given the market’s sensitivity to trust.

For state-owned firms, he proposed a structured pipeline to prepare issuers systematically before going public. Private companies, however, could benefit from targeted incentives like tax breaks, lighter regulations, and additional state support.

The VTB executive also called for greater domestic investment, particularly from retail investors. He argued that public markets should attract large, transparent, and liquid issuers capable of maintaining long-term engagement.

While acknowledging strong interest in artificial intelligence, Sredin noted that professional investors still seek opportunities across multiple sectors. He concluded that a well-diversified portfolio remains essential for assessing growth potential in different industries. Sredin’s proposals aim to strengthen Russia’s capital market by improving IPO readiness and investor trust. His recommendations include tailored incentives for state and private firms, alongside measures to boost retail investment. The focus remains on ensuring long-term stability and liquidity in public listings.