Trading of HeadHunter ADS begins on Moscow Exchange
MOSCOW. Sept 25 (Interfax) - Trading of American Depositary Shares (ADS) of recruitment service HeadHunter Group began on the Moscow Exchange on Friday, an Interfax correspondent reported from the ceremonial launch of trading.
The securities have been included in the first quotation list, in the RII-Prime segment, and will be traded under the code HHRU. Each ADS represents the right to one share. Trading and settlements will be conducted in Russian rubles. Trading of the securities in Russia has begun at 1,810 rubles per share.
"We see the trend throughout the world on the part of retail investors. This trend has been picked up by the developing infrastructure in Russia. We see that more and more new investors are entering the market. For us, this [a listing on the Moscow Exchange] is a possibility to expand our investor base, providing our investors with the opportunity to trade in a currency that's convenient for them, at a convenient time. The aim is diversification," HeadHunter Chief Strategy Officer Dmitry Sergienkov said during the ceremony.
"We will be targeting inclusion in all key indices, both sectoral and national. We understand the importance of liquidity growth for our investors. We are oriented toward growth and expansion of the investor base," Sergienkov said.
In the first ten minutes of trading, the price of the company's shares on the Moscow Exchange grew to 1,900 rubles. A total of 1,600 deals were made for almost 50 million rubles.