JP Morgan has received a fillip by scooping mandates on two eastern European initial public offerings expected to raise a combined total of $1.4bn (€992bn), less than a week after missing out on fees when Russian aluminium maker Rusal pulled its flotation.

The US bank is sole bookrunner on the initial public offering of Hrvatski Telekom, a Croation telecoms company. Hravtski's estimated $1.3bn flotation is set to become the largest from central and eastern Europe, excluding Russia.