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Moscow Exchange Shareholders Approve 200mn Bonus Issue
21.09.2012 19:15 / Interfax
According to the release, the bonus issue is part of the 29 June 2011 MICEX-RTS integration agreement.
In August, Moscow Exchange President Ruben Aganbegyan said that IPO volume is the only indicator. "It is set in the RTS-MICEX integration shareholder agreement: the minimum IPO volume is RUB 9bn. This volume determines the bonus issue amount of 200mn", he said.
He says that the exchange plans to float the bonus issue as a private offering and register the report in time for the exchange shares to become tradeable by the time of the IPO.
A source said that the offering price is likely to be set by the Board of Directors in January 2013, and the bonus issue will take place in February.