The limit on the amount of shares that Russian companies can offer outside of Russia and list on foreign exchanges was effectively removed. The limit was set at 40% more than 18 years ago and was subsequently lowered to 35%, 30% and 25% and stayed at that level for over 11 years. While the limit had been meant to increase liquidity of the Russian markets, it forced some Russian companies to set up offshore.
It is a very timely and bold step by the Central Bank of Russia, something we and our clients advocated earlier this year, to raise attentiveness of the Russian jurisdiction for high growth companies looking to IPO and achieve dual listings in US/UK and Russia.
See more: https://www.cbr.ru/press/event/?id=12424