Alfa Bank said that a large share of the total would come from power generation companies, being privatized in ongoing sector reforms.
To date Russian companies, which are believed to be heavily undercapitalized and in need of funds to compete successfully with Western firms, have raised $25 billion on equity markets through the issue of shares and $8.6 billion through the sale of strategic share packages in the electric power sector, the bank said.
Russian Finance Minister Alexei Kudrin earlier said that in more than 15 IPOs held on domestic and foreign trading floors in 2006, Russian companies raised about $16.7 billion.
In the coming 18-24 months, Russian electricity monopoly United Energy System (UES) intends to float several new share issues of its wholesale and territorial power generating companies set up in the sector reform process.
