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Kommersant analysis: Failed IPOs and investors withdrawing from the Russian capital market

*The top ten companies on the Moscow Stock Exchange concentrate over 60% of capitalization and liquidity *At the end of November, the IMOEX index was 14% lower than in January 2025 *Experts estimate a total capitalization of shares of about 50.8 trillion rubles for the end of 2025, lower than in 2024

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