"The adoption of regulatory framework is not enough to carry out successful IPOs and to issue depositary requests", Krylov noted.
A company should meet several requirements to launch IPO, according to Krylov. In particular, a company should maintain records in line with international standards of financial data reporting during some years before IPO. That is why today it is necessary to focus on preparing enterprises themselves for IPOs, Krylov noted.
The Prime Minister of the Republic of Belarus Mikhail Myasnikovich announced it at a meeting of the Advisory Board on foreign investments held on November 15 that the draft law on foreign depository receipts had been introduced for consideration by the President of Belarus.
Previously the Minister of Industry of Belarus said in his interview to Narodnaya Gazeta that IPOs of Byelorussian Steel Works, Minsk tractor works, Gonselmash, Gorisont and BATE JSC would be held in 2014-2015.