Some offerings have stumbled. Children’s goods retailer Detsky Mir sold 21.1 billion rubles of stock in February, in the biggest sale by a Russian consumer-goods company in three years, and attracted foreign investors including Vanguard Group Inc. and Credit Agricole SA.

The stock rose as much as 29 percent above its IPO price this year before collapsing in December, when a court froze controlling shareholder Sistema PJSC’s 52 percent stake in the retailer.

Still, with Brent crude trading 12 percent stronger this year and the Bank of Russia pushing on with rate reductions, the equity sales will continue, according to Vitaly Isakov, a money manager at Otkritie Asset Management.

“The Russian bull market is here to stay for another 3 to 5 years, triggering animal spirits in issuers and investors,” Isakov said. “I expect the Russian equity sales rush to continue.”