IPO could value Moscow Exchange at below $6 bln - Ulyukayev
MOSCOW. Dec 19 (Interfax) - The Moscow Exchange MICEX-RTS could be valued at less than $6 billion in an IPO, Central Bank First Deputy Chairman Alexei Ulyukayev told Interfax.
"I'm afraid that in the present global macroeconomics it'll be less [than the $6 billion that Ulyukayev estimated at the beginning of 2012]," he said. "Regarding Sberbank I've already said 100 rubles per share or more, but in this situation this was not possible. Like it is here," Ulyukayev said.
The market thinks the IPO would value the exchange at more than $4 billion, but Ulyukayev did not comment on this.
"I don't think it'll be valued adequately, like any other Russian asset [in that period]. Sberbank, I think, we sold this successfully, going by the global situation. But are we happy with the price? No, of course we're not. We think Sberbank is worth more. And the exchange, too, is worth more than we can get in the first half of next year. That's the global economy for you," he said.
"I don't expect there will be an adequate value, but it will be reasonable to some extent, we won't of course sell this wonderful asset for next to nothing," Ulyukayev said regarding the exchange.
He also said the IPO could take place entirely in Russia.