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![The shares will be available for both retail and institutional investors. [AP]](http://thebricspost.com/wp-content/uploads/2013/01/moscow-russia-300x186.jpg)
The shares will be available for both retail and institutional investors. [AP]
The Moscow Exchange, Russia’s biggest stock market announced its plans for an IPO, in line with attempts to transform Moscow into an international financial centre.
“After several years of preparation, we are delighted to be announcing our intention to bring the Moscow Exchange to the public market.
“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,” Chairman Sergei Shvetsov said in a statement.
The listing of the country’s largest bourse will raise some $500 million, and the shares will be listed exclusively in Russia.
The shares will be available for both retail and institutional investors.
No dates for the IPO has been announced as yet.
However, most likely the Exchange will float either on the first week of February, or at the end of April.
The Moscow Exchange is the largest bourse in Russia and in Eastern Europe, in terms of turnover and client base – the exchange runs MICEX and RTS indices.
The bourse was founded in 2011 as a result of the merger of Russia’s two major bourses – MICEX and RTS.
It was also ranked among the world’s top 20 exchanges by traded volume for securities and the total capitalisation of the traded stock.
Daria Chernyshova
