St. Petersburg Stock Exchange to launch trading in shares of German companies on Aug 21
MOSCOW. Aug 19 (Interfax) - The St. Petersburg Exchange (SPB Exchange) is launching a European securities market, with trading in the shares of five German companies set to start on August 21, the stock exchange said.
The shares of the first five issuers from Germany with a total market capitalization of 123.98 billion euros will be available during trading on Friday, including premium passenger car manufacturer Bayerische Motoren Werke Aktiengesellschaft (SPB: BMW @ DE); microchip manufacturer in Europe Infineon Technologies AG (SPB: IFX @ DE); pharmaceutical company MERCK Kommanditgesellschaft auf Aktien (SPB: MRK @ DE); manufacturer of cosmetics and household chemicals Henkel AG & Co. KGaA (SPB: HEN3 @ DE); and ophthalmic device manufacturer Carl Zeiss Meditec AG (SPB: AFX @ DE).
Organized trades and transactions will be settled in euros on the second day (T+2). The trading session will be held from 10:00 a.m. to 6:35 p.m. Moscow time in accordance with the European trading calendar. The minimum lot is one share.
It is planned to add 47 more shares of German companies to trading within the next two months at the initial stage. When expanding the list of securities, the SPB Exchange takes into account the proposals of trading participants and private investors, the exchange said.
"We adhere to the chosen strategy of providing maximum investment opportunities for private investors by providing a wide range of trading instruments. In response to the needs of investors for European securities denominated in euros, we are launching trading in German shares. In the future, we plan to continue expanding our investment geographical area to other European countries. Currently, we have listed more than 1,800 instruments, 52 of which are shares of German issuers, which will become available for trading within the next two months," Evgeny Serdyukov, general director of the SPB Exchange, said in a press release.
Serdyukov told Interfax that the exchange plans to expand the geography of investment further, specifically by launching trading in Hong Kong shares.
"This will happen after the completion of the necessary procedures related to the process for the payment of transactional taxes. We expect to bring Hong Kong shares to trading by the end of the year," Serdyukov said.
PJSC Saint Petersburg Exchange is a member of the Nonprofit Partnership for the Development of the RTS Financial Market (NP RTS Association) group of companies and is a stock exchange for organizing trading in shares of international companies in Russia. Currently, 1,406 foreign securities are in circulation, including shares, depositary receipts, and Eurobonds. Trading volume in the main trading mode of securities of foreign issuers as of July 2020 was $14.81 billion. The number of active customer accounts is 323,570.