The FINANCIAL — The EBRD and the Russian Direct Investment Fund have agreed to acquire 6.29 percent and 1.25 percent 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,according to MICEX-RTS.
EBRD and RDIF’s equity investment supports 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.
The EBRD’s stake will give the Bank the right to nominate a candidate for election to its Board of Directors, a body which determines the exchange’s development strategy and agrees listing and reporting standards.
The RDIF, established in 2011 under the aegis of the Russian government, is a USD 10 billion investment fund that seeks to maximize returns by making investments in the leading companies of fast-growing sectors across the Russian economy, investing in partnership with leading financial institutions and corporations.
Russia’s stock market is the most developed in the Commonwealth of Independent States. MICEX-RTS presents itself as one of the top-20 global securities exchanges in terms of trading volume, as well as one of the top-10 global futures and options markets as regards derivatives, again as measured by trading volumes.