Bid book for Moscow Exchange shares more than doubly oversubscribed - CEO
MOSCOW. Feb 15 (Interfax) - The bid book for Moscow Exchange's initial public offering (IPO) was more than doubly oversubscribed at the lower price corridor of 55 rubles, the exchange's CEO Alexander Afanasiev told reporters on Friday.
This means that the subscription for Moscow Exchange shares totaled more than 30 billion rubles, he said.
Afanasiev did not say how many investors had participated in the placement, noting that there were "dozens of funds" involved.
The shares were evenly divided by applications. "There weren't any anchor investors," he said.
Applications from London, continental Europe, the U.S. and Asia predominated, he said.
At the ceremony marking the start of trade, Afanasiev noted that there were many large applications that "unfortunately had to be reduced."
The largest stake was sold for $80 million, while the rest of the stakes were significantly smaller, he said.
Moscow Exchange has no intention of listing its shares abroad, Afanasiev said.
A source on the financial market told Interfax that the bid book was oversubscribed by 2.3 times.
During the ceremony, Deputy Chairman of the Russian Central Bank (CBR) and Chairman of Moscow Exchange's Supervisory Board Sergei Shvetsov said that as per the previously approved plan, the CBR intends to withdraw from the exchange's capital within two years. Like several other shareholders, the CBR has signed an agreement not to sell shares for six months after the placement.
"Actual steps to withdraw from the exchange's capital will start no earlier than within six months, but no later than two years," Shvetsov said.
