Not everyone has been entirely welcoming of the growing trend of Russian firms looking to IPO over here writes eFinancial News, but the news of Sberbank’s $5bn offering was surely a welcome green shoot in these far-from-springlike times. It might even be looking like starting a trend, especially in the wake of recent news about healthcare provider MDMG’s listing plans, mobile phone operator Megafon and lender Promsyazbank which are all also announced to be moving closer this month.

The continued adventures of RBS’s unloading of Direct Line also suggest that things are moving again, even if the IPO plans came with mixed messages on valuation – from more than £3bn to as low as £1.5bn – and despite the possibility of it all ending in a private equity swoop remaining open.

Almost all of these deals have been on the cards and just waiting for market conditions to improve, however briefly, and recognises that London remains a vital centre for capital raising. As the seasons and the leaves change, so perhaps is the IPO market.