.jpg)
The Directorate of the MICEX Stock Exchange has adopted the waiting list of the MICEX Index for the 3rd quarter of 2007. In the 3rd quarter the waiting list will be supplemented with stocks of VTB Bank, MMK, JGK-2, KAMAZ, VolgaTelecom, Polimetall, KALINA Concern and UAZ. Stocks of OGK-6 and Vozrozhdenie Bank have been excluded from the list.
The waiting list contains stocks to be included in the MICEX Index basket (Index composition). In accordance with the Rules of the MICEX Index calculation, the waiting list is revised quarterly. Stocks are included in the MICEX Index basket on the basis of such criteria as the liquidity of the stock during the quarter and the issuer’s profile, which must match one of the ten sectors of the waiting list. When the Index basket is revised on 15 October 2007, a basket will be formed for the next six months on the basis of the existing basket and the waiting list and taking into account the recommendations of Index Committee. Stock which satisfy the selection criteria to the maximum will be selected from the waiting list and included into the MICEX Index basket.
The Directorate of the Exchange has adopted the new version of the Rules of the MICEX Index calculation. The new Rules, which will be put into effect on 23 July 2007, enable to keep a stock in the Index basket if trading in this stock on the Exchange is terminated due to emission. The new Rules provide for the new period of adopting the Index basket. The Index basket has to be adopted within the last 5 workdays of March and September (before: within the first 3 workdays of April and October). This change is aimed at extending the time between the date of the announcement of the new Index basket and the date of its implementation.
The MICEX will publish the list of securities comprising the Index basket on its web site and in press releases not later than two weeks before the day of the implementation of the Index basket.
Waiting list of the MICEX Index for the 3rd quarter of 2007:
| # | Issuer | Type of stock |
| 1 | VTB Bank | common stock |
| 2 | MMK | common stock |
| 3 | OGK-4 | common stock |
| 4 | Irkutskenergo | common stock |
| 5 | ROSBANK | common stock |
| 6 | OGK-2 | common stock |
| 7 | KAMAZ | common stock |
| 8 | Promstroibank | common stock |
| 9 | Sibirtelecom | common stock |
| 10 | VolgaTelecom | common stock |
| 11 | Polimetall | common stock |
| 12 | Severstal-Auto | common stock |
| 13 | Dalsvyaz | common stock |
| 14 | RAZGULYAI Group | common stock |
| 15 | KALINA Concern | common stock |
| 16 | UAZ | common stock |
Background
The MICEX Index has been calculated since 22 September 1997. It is the composite index of the Russian stock comprised of 30 most liquid stocks of Russia’s largest and most dynamic companies from 10 main sectors of the country’s economy. The maximum value of the MICEX Index at the close of 1777.84 points was registered on 16 April 2007. The historical minimum value of the MICEX Index of 18.53 points was registered on 5 October 1998. The MICEX Index is used by management companies as an underlying asset for 24 index funds, the total value of assets of which is 5.2 billion rubles.
