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Petersburg, received only $400 million out of the planned $773 million. The company was also forced to reduce stock par value and to cut its share parcel by a third.Other major companies, including Russian seafood firm Russkoye Morye (Russian Sea) and meat production and processing company Cherkizovo Group, lost $40 million and $36 million, respectively. Russian chemical holding Uralchem, which had spent several million on a planned IPO, cancelled the event.
Consequently, total losses incurred by the Russian economy due to the Greek crisis and the Goldman Sachs fraud case are estimated at $1.4 billion.
Russian analysts say the current stock market is largely affected by external factors, and that investors will not be interested in the market in the short term.
On May 2, the European Commission and the IMF adopted a 110 billion euro financial aid plan to Greece. This plan also has to be approved by the Greek and EU parliaments. Financial market expectations
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