IPO and pre-IPO
We advise on IPOs, SPOs, DPOs, private placements, and pre-IPO transactions, including convertible bonds and digital financial assets. We understand not only the legal side of the project, but also its economic substance
A full-cycle entry into the equity capital market
We take into account the shareholders’ objectives and work to enhance the business’s investment appeal
We support companies on their path to going public, from deal structuring to legal documentation and share listing
Our capabilities in pre-IPO
Participation in developing the company’s investment case
Conducting due diligence — we help determine the optimal scope
Formation of the corporate structure
Preparation of the financial model and presentation materials, including for placement on MOEX Start
Unique mechanisms for issuing off-balance-sheet convertible bonds through our infrastructure to raise funds as part of a pre-IPO
LECAP is one of the first valuation validator companies accredited by the Moscow Exchange for the placement of shares of Russian companies on MOEX Start
Our capabilities in IPO/SPO/DPO/private placements
Determining the optimal scope of due diligence required for the transaction
Preparation and registration of the prospectus
Established relations with governmental and financial institutions
Full support in interactions with the exchange and the regulator
Preparation of LTI programs (long-term incentive programs for top management)
Review of marketing materials for consistency with publicly disclosed information
Conducting educational events to prepare issuer management for an IPO
Legal support for IR, including matters related to disclosure
Over the past 2 years, we have supported half of all public placements by Russian companies, totaling more than RUB 100 billion
Recognition and achievements
Best legal counsel in the IPO/SPO market — 1st place, PREQVECA IPO AWARDS 2025, 2026
“Best international market placement” — Softline Holding plc IPO on the LSE and MOEX, PREQVECA IPO AWARDS 2022
“Best domestic market placement” — IPO of PAO Segezha Group, PREQVECA IPO AWARDS 2022
IPO of the Year — PAO Sovcombank — 1st place, PREQVECA IPO AWARDS 2024
IPO of the Year — PAO MTS-Bank — 1st place, PREQVECA IPO AWARDS 2025
MOSCOW EXCHANGE IR GUIDE 2025
We participated in developing the first-ever list of IPO standards in the Russian market, prepared by the Moscow Exchange together with the professional community
MOSCOW EXCHANGE IPO GUIDE 2024
We prepared a chapter for the Moscow Exchange’s Issuer Guide “How to Talk to Investors” (IR Guide) entitled “Regulatory Framework for Disclosure in an IR Context”
IPO transaction standards
We participated in developing the first-ever list of IPO standards in the Russian market, prepared by the Moscow Exchange together with the professional community
Industry recognition
Our clients’ testimonials
Your deep understanding of the specifics of our status, strict adherence to deadlines, and clear and effective communication were the key to our successful project. All recommendations were balanced, practical, and based on extensive professional experience
— PAO DOM.RF
The LECAP team provided our company with high-quality support in connection with the initial public offering (IPO) … and took an active part in the Project at every stage
— PAO PROMOMED
We hereby express our sincere gratitude for your high professionalism and reliable partnership, and also recommend LECAP as legal counsel for capital markets transactions.
— PAO MTS
LECAP is a highly professional legal adviser, possesses deep expertise in corporate law and securities regulation, and provides services efficiently and within a short timeframe.
— VK
Your deep understanding of the specifics of our status, strict adherence to deadlines, and clear and effective communication were the key to our successful project. All recommendations were balanced, practical, and based on extensive professional experience
— PAO DOM.RF
The LECAP team provided our company with high-quality support in connection with the initial public offering (IPO) … and took an active part in the Project at every stage
— PAO PROMOMED
We hereby express our sincere gratitude for your high professionalism and reliable partnership, and also recommend LECAP as legal counsel for capital markets transactions.
— PAO MTS
LECAP is a highly professional legal adviser, possesses deep expertise in corporate law and securities regulation, and provides services efficiently and within a short timeframe.
— VK
Your deep understanding of the specifics of our status, strict adherence to deadlines, and clear and effective communication were the key to our successful project. All recommendations were balanced, practical, and based on extensive professional experience
— PAO DOM.RF
The LECAP team provided our company with high-quality support in connection with the initial public offering (IPO) … and took an active part in the Project at every stage
— PAO PROMOMED
We hereby express our sincere gratitude for your high professionalism and reliable partnership, and also recommend LECAP as legal counsel for capital markets transactions.
— PAO MTS
LECAP is a highly professional legal adviser, possesses deep expertise in corporate law and securities regulation, and provides services efficiently and within a short timeframe.
— VK
IPO and pre-IPO Cases
All cases 01 /
IPO & PRE-IPO
2025
IPO of DOM.RF on the Moscow Exchange
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The first IPO of a development institution with state participation in Russian practice and one of the few in the world
LECAP lawyers supported the project from start to finish, including the preparation of offering documentation, legal documentation (lock-up deeds, agreements with brokers, and others), support for KYC procedures and disclosure procedures, preparation of internal policies and regulations to comply with listing criteria, as well as preparation of a long-term incentive program for employees
02 /
IPO AND PRE-IPO
2024
IPO of PAO PROMOMED on the Moscow Exchange
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The first IPO of an innovative biopharmaceutical company engaged in biotechnology research and development on the Russian market
We prepared the company for the IPO over three years: we built the corporate structure, corporate governance, positioning, participated in the preparation of the financial model, and supported the IPO at every stage, including the preparation of the issuance and transactional documentation
03 /
Corporate Governance and M&A
2024
Corporate Restructuring and IPO of PAO Diasoft
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The prospectus was registered in parallel with the completion of the closed subscription for the transition to a “single share”
LECAP provided full legal support for both the corporate restructuring of PAO Diasoft and the company’s subsequent IPO on the Moscow Exchange
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