Moscow Exchange, NASDAQ OMX launch partnership to promote Russian tech, biotech community
MOSCOW. Oct 22 (Interfax) - Moscow Exchange (MOEX) and NASDAQ OMX (NDAQ) have signed a co-operation agreement to work to develop the Russian technology and biotechnology community, the Moscow Exchange said in a press release.
The aim of the co-operation is to jointly facilitate access to capital for the fast growing Russian start-up community and to promote listings at both exchanges.
In 2009, Moscow Exchange and state nanotchnology corporation Rusnano created a listing platform for young and promising non-commodity companies called the "Innovations and Investment Market of Moscow Exchange".
"There are a lot of interesting technology companies emerging from Russia, in combination with a strong interest from global issuers and investors to become more involved with this community," said Bruce Aust, Executive Vice President and Head of Global Listings at NASDAQ OMX. "We have supported some of the new, leading and fast growing Russian technology companies in raising capital, like CTC Media, QIWI and Yandex, who we are proud to have listed with us. We truly look forward to being a part of the new Russian technology companies" development and support them with the best possible foundation to raise capital in Russia and globally," Aust said.
Within the scope of the co-operation, the two exchanges will jointly organize conferences, workshops and presentations for innovative companies and international investors.
"Moscow Exchange is happy to partner with Rusnano and NASDAQ OMX to identify future technology leaders and promote flotations on both exchanges. We see growing interest to invest into technology stocks from the Russian investment community. I hope this new co-operation agreement will help to create a roadmap for start-ups to raise capital to support their growth," said Alexander Afanasiev, CEO of Moscow Exchange.
"Rusnano's partnership with NASDAQ OMX is part of our efforts to strengthen the links between Russia's startup entrepreneurs and the global VC community," said Head of Coordination council of Innovation and Investment Market of Moscow Exchange, Chairman of the Rusnano Executive Board Anatoly Chubais. "We believe that NASDAQ OMX's heritage and brand can give Russian tech companies greater reach and visibility to the global technology investor community," Chubais said.