Putin Calls for IPOs in Russia
2012-03-28 17:49:29
Russia's MICEX-RTS stock market needs to attract Russian companies to hold initial public offerings at home, President-elect Vladimir Putin said on Tuesday, at a meeting with Russian Direct Investment Fund (RDIF) head Kirill Dmitriev.
"As the RDIF spent a considerable sum of money to merge the two stock exchanges, I think ... we should work with our businesses which are going to hold IPOs. These IPOs should be held on the Russian markets, first of all," Putin told Dmitriev.
The European Bank for Reconstruction and Development purchased 6.29 percent of the MICEX-RTS stock exchange in the RDIF's first deal. The RDIF's stake in the MICEX-RTS amounts to 1.25 percent.
The integrated stock exchange may hold an IPO in the fourth quarter of 2012 or in the first quarter of 2013, if market conditions are favorable.