Micex-RTS to sell part of its stock via IPO

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Moscow’s Micex-RTS stock exchange is planning to put some of its own stock on sale through an initial public offering on its Micex trading platform, with Credit Suisse, J.P. Morgan, Sberbank CIB and VTB Capital acting as joint global coordinators.

The four banks will also be bookrunners for the IPO, a role in which they will be joined by Deutsche Bank, Goldman Sachs, Morgan Stanley, Renaissance Capital and UBS, according to a Micex-RTS statement.

The statement did not indicate the value of the interest going on sale.

The shares will be offered to both institutional and retail investors in Russia and to institutional investors abroad, including in the United States.

One or both of the bourse’s subsidiaries, Micex (Cyprus) Limited and Micex-Finance, will be involved in the IPO. All current shareholders of Micex-RTS except for the Russian Central Bank will be able to put their shares on sale.

“The Exchange’s own listing is a key element of our strategy to promote the development  of  the  local  capital  markets  as  well  as  to  broaden the  regional  and  international  appeal  of Moscow  as a financial  centre,” said Sergei Shvetsov, chairman of the Micex-RTS supervisory board and deputy chairman of the Russian Central Bank.

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