By Andrei Skvarsky
Russia’s central bank has sold an 11% stake in Moscow Exchange in partially fulfilling its obligation to divest all its interest in the bourse by January 1, 2016.
“We are delighted to be leading the way in reopening Russia’s capital markets with a ground-breaking transaction for Moscow Exchange,” a statement from Moscow Exchange quoted its chief executive Alexander Afanasiev as saying.
“This follows on from a number of successful equity placements on our exchange over the past year, and once again demonstrates the quality and depth of the local market, and the potential for companies to carry out large transactions in local shares,” Afansiev said.
“With this transaction, we have reached a free float of over 50%, one of the largest in the Russian market, giving us an even more balanced and diverse shareholder base with new high-quality investors from across Asia, the Middle East, Europe and the US,” he said.
“We are pleased with the investor response to the transaction, which was several times oversubscribed. We take this as a strong endorsement of the Exchange’s ability to deliver growth through the cycle and strategic focus on driving forward the development of Russia’s financial market infrastructure,” Afanasiev said.
Sorry, comments are closed for this post.