By Jason Corcoran
Transaero, the airline which partners with British Midlands International (BMI) on the London-Moscow route, is looking at a 8-10% listing of its shares on the Micex bourse later this year or in 2010.
Prime Tass cited Alexander Pleshakov, chairman of the company’s board of directors, a saying that Transaero is likely to sell shares belonging to its subsidiary Transaero Finance.
Transaero Finance owns 14% in Transaero currently.
Principal shareholders are reported to be Pleshakov and members of his family with about 44% together.
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Can anyone tell me the difference between MICEX and RTS? Would be greatly appreciated. Thanks
MICEX is largely a ruble-denominated market, while RTS is, to a large extent, currency-denominated (settlements are made in rubles, US dollars and euros). Also MICEX is an order-driven trading system.
Initially, RTS operated as an over-the-counter market, a quote-driven system, but nowadays a Guaranteed Quote System (GQS) exists, i.e. transactions are executed in rubles and on quote-driven terms, and also there is an option to execute currency transactions on delivery versus payment (DVP) terms.