Around 50 companies waiting for favorable conditions to enter Russian stock market - Nabiullina

MOSCOW. Sept 18 (Interfax) - Several dozen Russian issuers are waiting for a window to enter the stock market, Central Bank of Russia Governor Elvira Nabiullina said at the Moscow Financial Forum on Thursday.

"The potential of the stock market is enormous. Of course, it is currently influenced by the key rate, but I absolutely agree that this may not be the biggest influence. It will pass, it is temporary," Nabiullina said in response to a question from the moderator of the plenary session, State Duma Budget and Taxes Committee Chairman Andrei Makarov, about whether the goal of increasing stock market capitalization to 66% of GDP by 2030 is achievable. Enterprises make strategic decisions about entering the market, and the rate only influences the exact timing of when this happens, Nabiullina said.

"We currently see that about 50 companies want to enter the market. But this is still too few," she said.

To achieve the objectives for stock market development, it is necessary to guarantee the protection of investors' rights. "This is a fundamental thing," she said.

"And of course, new issuers must enter. Because very few companies are currently traded on the market; everyone prefers to take a loan, and even better - a subsidized one. Because entering the market means disclosing information," she said.

Another necessary condition for achieving the set goal is the entry of state-owned companies onto the stock market.

"Large state-owned companies will be of interest to people, to investors, and as far as I know, the government has such intentions - to gradually bring large state companies to the market," Nabiullina said.