... economies such as the US and Europe, public companies regularly conduct follow-on offerings to finance business expansion. During economic upturns, the volume of SPOs increases, while it decreases during crises. In Russia, secondary offerings became possible ... ... financial reporting standards were adopted, and investor interest in public companies grew. However, after the global financial crisis of 2008-2009, activity in the IPO and SPO markets declined. In the following years, moderate growth in the number of secondary ...