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Putin Against IPO Restrictions

President Vladimir Putin suggested that restrictions on the participation of some investors, including the government's Pension Fund, be lifted in Russian companies' initial public offerings, Interfax reported.

"Of course we need to support our own investors. I think citizens who are only just establishing their pension entitlements should have the opportunity to invest their pension savings in shares in the best Russian companies," Putin said at a meeting on the stock market's development. "Some of the privatization deals, as I've already said, have taken place or will take place in the form of IPOs."

"But restrictions on participation in initial offerings apply to a range of Russian investors, including the Pension Fund, and I propose discussing an end to these restrictions," he said.

Putin said it was important not just to put the infrastructure and regulatory base in place but to have your own long-term funds.

(MT)

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