Credit Suisse is set for a busy April, working on four Russian initial public offerings in a market which, despite a fall in volatility and rising markets, remains challenging for flotations.

The Swiss bank, which ranked fifth in the bookrunner rankings for Europe, Middle East and Africa in the first quarter, is working on the flotations of mid-sized Russian bank Nomos, property developer Etalon, telecoms retailer Euroset and pork producer Rusagro.