Dear Client,
The Central Bank of Russia (CBR), being the largest shareholder of Moscow Exchange, sold 267 274 238 MOEX shares at a price of 60 roubles ($1.75) per share during an international offer. The demand for shares exceeded the supply by several times. The main stake of the offered shares was purchased by the Russian Direct Investment Fund, acting in alliance with foreign investors. The structure of the main MOEX shareholders was changed to CBR with 16.5%, Sberbank – 9.992%, Vnesheconombank – 8.395%, European Bank for Reconstruction and Development – 6.063%, and Chengdong Investment Corporation with 5.616%.
The subsequent decrease of CBR`s participation in the MOEX capital is in accordance to Federal Law No. 251-FZ enacted in 2013, according to which the Bank of Russia must withdraw from the capital Moscow stock exchange by 1 January 2016.
Impact on investors: Termination of the Russian Government participation in Moscow Exchange capital has started.