The owner of CarMoney, a Russian company specializing in secured car loans, launched a direct listing on the Moscow Exchange on July 3 in a capital raise that valued the company at around 6.3 billion roubles($70.7 million).In a direct listing a company offers shares to the public without going through a bank-backing initial public offering. SmartTechGroup (STG), which owns CarMoney plans to offer more shire s in tranches, adjusting the volume and price each time.

Mosco Exchange still expects up to 10 share placements this year, while Russia biotech startup Genetico raised 178.8 million roubles in April.