... demonstrate the company's foresight. It is also telling that current shareholders do not plan to sell their stakes—this is always a positive sign for investors, indicating confidence in the company's future growth. Of course, it is important to consider the risks. Developing production, especially in the context of current economic uncertainty, is always a complex task. The success of the IPO will depend on how effectively Lambumiz can execute its stated plans and maintain the projected growth rates. However,...

... fallen to its current ~$38 billion. Just a decade ago, Gazprom's management harbored ambitions of reaching a trillion-dollar valuation; however, in practice, the company is experiencing an extended downturn. Dependence on commodity export and political risks have undermined investor confidence: GAZP shares have lost a significant portion of their value in recent years. Tatneft Remains Far Behind A similar situation is observed with Tatneft. This large Russian oil company is currently valued by the market ...

... worthless at expiration. Nevertheless, this effect is not guaranteed — external factors can also influence prices. Market Participants' Tactics Ahead of Expiration Major investors and traders typically prepare in advance for expiration weeks by managing risks and restructuring their derivatives portfolios: Position Rollovers: Many option holders prefer to roll over their positions to longer-dated contracts to avoid execution. In August, an increase in open interest for September and December series ...

... transaction. It reduces costs, as there is no need to make transfers to current accounts. It ensures the fulfillment of obligations. The second tool we plan to implement is a letter of credit. This is another mechanism for protecting against commercial risks. A letter of credit is a bank account where the buyer deposits payment for goods or services. The seller or supplier receives the money only after fulfilling their obligations, such as delivering the ordered fuel on time. The bank acts as a guarantor ...

... the same goods. This is particularly hard on retirees and those on fixed incomes, as their earnings are effectively devalued. Second, high inflation creates economic uncertainty: businesses cannot accurately plan investments and expenses, raising the risk of project losses. The central bank must increase the key interest rate to "cool down" the market, making loans more expensive and slowing economic growth. Furthermore, during rapid devaluation of money, people tend to spend or invest their ...