The 2nd international conference “IPO and Beyond. New Capital Market Products on the Horizon”, organized jointly by the MICEX Stock Exchange and the London Stock Exchange, has opened in Moscow. This conference, like a number of earlier events, is held in the framework of the joint marketing agreement, signed by the London Stock Exchange and the MICEX Stock Exchange last year. Cooperation between the two exchanges is aimed at promoting Russian companies’ IPOs in the domestic as well as overseas capital markets.
The conference, devoted to the current trends in the Russian IPO market and the market’s prospects, is attended by over 400 heads of companies-issuers and professional participants in financial markets from Russia, the CIS, Great Britain and other countries of the European Union.
Held in the context of the rapid growth of the Russian IPO market, this conference is a valuable contribution to the international dialogue on the problems of attracting capitals in Russia and abroad. Russia’s new experience in organizing IPOs is what makes this year’s conference special. After Rosneft’s IPO in July 2006, all IPOs of Russian companies have been made in accordance with the «30/70» rule, which requires that at least 30% of shares of Russian companies must be placed on Russian floors. Participants in the conference will be able to learn from regulators, exchanges, financial advisers and issuers themselves about the influence of these changes on the development of the IPO market. The conference includes the survey of new financial products and instruments, offered to Russian issuers by the MICEX Stock Exchange, the London Stock Exchange and financial advisors. Special attention will be paid to the new segment of the stock market for innovation and growth companies (IGC), EDX derivative instruments of the Russian International Order Book (EDX Russian IOB) and other new services intended to stimulate dual IPOs of mid-cap companies.
Opening the conference, President of the MICEX and Chairman of the Board of the MICEX Stock Exchange Alexander Potemkin said: “Today, the Russian economy and the Russian stock market are developing rapidly. To a certain extent, this growth is a result of infrastructure changes that have taken place on Russian capital market. These changes were initiated by such key players as the MICEX Stock Exchange. In 2007, the MICEX Group, which includes the MICEX Stock Exchange, marks its 15th anniversary. Last year, the MICEX Stock Exchange joined the list of the world’s top 20 leading stock exchanges, which includes the Shanghai Stock Exchange (China), the National Exchange of India and the Sao Paulo Stock Exchange (Brazil). The main source of the Exchange’s growth is the fact that more and more Russian companies begin to understand the important role of the stock market as a source of investments. The years 2005 and 2006 were the years of the emergence of the industry of Russian companies’ IPOs. Last year, a record 16.5 billion dollars was raised through the placement of shares. This year, we also expect a big number of initial and secondary placements. Some of them have already been made, including the additional placement of Sberbank shares. At present, stocks of most of Russia’s largest companies are actively traded in the Russian market. Now we have to widen the base of the stock market and attract hundreds of medium-sized companies, including those from the hi-tech sector”.
The conference has coincided with the visit of John Stuttard, Lord Mayor of the City of London, to Moscow. Jointly with Chairman of the London Stock Exchange Chris Gibson-Smith, Mr. Stuttard will give a report on the development of economic links between Moscow and London and the new possibilities which this cooperation creates.
Find more information on the conference, held 2-3 April 2007 in the conference hall of the MICEX in Moscow, on the site: www.russianipo.com.
