Our progress / Hot Topics

Financial markets megaregulator

Back to Media

Сentral Bank Sells MOEX Stake

02.07.2014 12:15 / MIFC

The Bank of Russia website has reported that on 2 July, the Central Bank sold off 267.3 mln MOEX shares or 11.7% charter capital, at RUB 60 per share, with participation of Goldman Sachs, J.P. Morgan, VTB Capital and Sberbank CIB as financial advisors; Gazprombank and Citigroup as co-contractors — financial advisors.

The MOEX sell-off comes with a 6-month lock-up period, CB First Deputy Chairman Sergey Shvetsov told the press Wednesday at the International Banking Congress in St Petersburg.

According to him, the investors were allocated roughly 15% in Asia, 33% in Europe, with some 40% - in Russia. Over 10% shares were allocated to American investors.

Following the lock-up, CB obliged by federal law to exit MOEX by 1 January 2016. Shvetsov said the Central Bank still holds a roughly 11,7% stock in the Exchange.

“We had a case of accelerated book-building. We have worked with investors for a few months, but the book itself was built overnight. We never asked, never pleaded for shareholders’ support. This deal was made by the market”, said Shvetsov.

According to Moscow Exchange mid-May data, the Central Bank owned 28.26% of MOEX charter capital, or 643 million 937 thousand 109 shares, including repo contracts.

Financial markets megaregulatorTrading infrastructureProject Group №1