It looks as if 1996 will go down in history as the year emerging markets bounced back with a vengeance, pushing trading volumes in depositary receipts to record heights
When Peter Neyev travelled from Moscow to the floor of the New York Stock Exchange two years ago, the IR director of Lukoil already knew what he wanted for his company: a Big Board listing. Even then Neyev hoped Lukoil would become the first Russian company to trade on the most prestigious stock market in the world. After several more roadshows, and extensive paper wrangling with the Securities & Exchange Commission, Neyev's dream looks like becoming reality. Lukoil expects to list on
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