×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

RTS Exchange Preparing for 2011 IPO

The RTS stock exchange plans to sell shares in an initial public offering next year to raise funds for expansion in Russia, Ukraine and Kazakhstan.

The size of the listing is yet to be determined and “at the moment, consultations with underwriters are being held,” RTS spokeswoman Rufina Baybulatova said by e-mail Tuesday.

 “The majority of global exchanges have conducted or are conducting IPOs,” said chief executive Roman Goryunov in a separate e-mailed statement. “This is one of the factors that emphasizes the maturity and high level of the stock market development.”

Poland sold a majority stake in the Warsaw Stock Exchange in a 1.2 billion zloty ($420 million) IPO last week.

The decision to list publicly is a “logical step” in the exchange’s development, and is a “procedure that most global exchanges undertake,” Baybulatova said.

The exchange’s shareholders include Troika Dialog and Renaissance Capital among domestic banks, and international banks including Deutsche Bank and Citigroup.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more