Western politicians may regard Russian President Vladimir Putin as controversial, but international investors and Russian issuers believe he is a stabilizing force for the economy and equity market. His decision, announced in September, that he would retain a significant political role after he steps down as president next March reassured investors.
Equity volumes issued by Russian companies this year suggest investors' concerns about political instability in the run-up to the Dec. 2 parliamentary elections were measured. Total equity-capital-market issuance has reached a record $32 billion this year, up from $20 billion at the end of last year and $6 billion ...
