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The Directorate of the MICEX Stock Exchange has accredited first listing agents. These are organizations which have an official status and guide innovation and growth companies to the MICEX Stock Exchange.
First listing agents accredited at the MICEX Stock Exchange are: ALOR INVEST; EUROFINANCES Investment Company; REGION Financial Consultations; RUSS-INVEST Investment Company; TatInK Investment Company; and FINAM.
The institution of listing agents was created to reduce investors’ risks and improve the transparency of companies in the MICEX Stock Exchange’s Sector for Innovation and Growth Companies (IGC). This is why the MICEX Stock Exchange grants the listing agent’s status only to organizations which have experience in corporate financing and investment consulting. This includes organizing and underwriting bond loans, bringing companies to the stock market, organizing IPOs, management, legal, tax and audit consulting, providing analytical support to issuers, services in the area of public relations and the marketing of financial products.
Listing agents:
- prepare documents which, according to the Rules of Listing, the issuer needs to be able to apply for the admission of its securities to placement. They also prepare the application for the admission of securities to trading with or without listing.
- sign the issuer’s investment memorandum and corporate calendar, which the issuer submits when its securities are admitted to trading on the MICEX SE and are supported in the Sector for Innovation and Growth Companies. The contents of the issuer’s investment memorandum and corporate calendar are approved by the Directorate of the MICEX SE.
- secure the disclosure of the company’s information and its reliability when the company’s security is placed and supported in the Sector.
Listing agents are accredited for the period of 1 year, which can then be extended.
Applications for the accreditation of companies as listing agents are to be submitted to the Listing Department of the MICEX Stock Exchange (contact telephone number: +7(495)2344816).
The Sector for Innovation and Growth Companies (IGC Sector) was created to attract more investments in the fast-growing innovation sector of the economy by small and medium-sized companies, create appropriate conditions for these companies’ IPOs and facilitate the development of venture financing in Russia. The IGC Sector helps small-cap companies (100 million to 5 billion rubles) to enter the market. These issuers’ securities will have to meet minimal liquidity requirements. Also, issuers will have to sign an agreement with a listing agent. The IGC Sector is for high-tech companies dealing with telecoms, online business, software development, radio electronics and semiconductors, biotechnologies and pharmaceutics, etc. For a company to be admitted to the IGC Sector, its yearly growth of revenues must be at least 20%.
