Shares in foreign co listed on Moscow Exchange for first time
MOSCOW. June 17 (Interfax) - Shares in a foreign company have received a listing on the Moscow Exchange for the first time.
In February, the Moscow Exchange approved new listing rules that set the stage for the inclusion of foreign companies' securities in quotation lists. Since then, shares in exchange investment fund FinEx Tradable Russian Corporate Bonds and depositary receipts in Qiwi Plc have been added to the Moscow Exchange's list.
On Monday, the exchange announced the inclusion of Jersey-registered company Polymetal International plc's shares in quotation list B. A Moscow Exchange spokesman confirmed to Interfax that this is the first share in a foreign company to be listed in Moscow.
Sberbank CIB and Otkritie Brokerage are the market makers for Polymetal's shares.
The shares in Polymetal, which is the holding structure for Russia's OJSC Polymetal , are traded on the London Stock Exchange (LSE). The company was deprived of its spot on the FTSE-100 last week. Polymetal chief Vitaly Nesis thinks that a listing in Moscow brings the company closer to inclusion in the MSCI Russia index (OJSC Polymetal shares were present on this index prior to the reorganization of the corporate structure in 2011).