Moscow Exchange IPO kicks off with $500m worth of stock floated

The Moscow Exchange is launching its initial public offering today, putting 15bn rubles’ (497.5m dollars’) worth of stock on sale on its own platform and having set the per-share price at 55 rubles ($1.83).

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A statement from the exchange values the bourse at 126.9bn rubles ($4.2bn).

VTB Capital, as stabilising manager of the IPO, will have the right to acquire up to 13% of the total number of shares floated. The brokerage has a period of 30 days to do so.

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