European bank of Reconstruction and Development and the the Russian Direct Investment Fund have agreed to purchase 6329 and 1.25 % shares of Russia’s MICEX –RTS stock exchange.
The EBRD and the Russian Direct Investment Fund (RDIF) have agreed to acquire 6.29 per cent and 1.25 per cent stakes respectively in Russia’s MICEX-RTS stock exchange. The investment is part of a long-term strategy to promote the development of local capital markets in Russia and broaden the regional and international appeal of this recently unified exchange.
The EBRD and RDIF’s equity investments support Russia’s goal of transforming Moscow into a globally important and competitive international financial hub. This investment breaks new ground for the Bank as this is the first time the EBRD has invested in a trading exchange in one of its 29 countries of operation. For the RDIF, the transaction represents its first investment only six months after being established.
Russia’s MICEX –RTS stock exchange was officially established on 19 December 2011 after merging two stock exchanges.
Author: Irina Fomina