Major foreign IPOs in Moscow still years away says Kudrin
MOSCOW – Large foreign companies will start holding Initial Public Offerings in Moscow's International Financial Center no earlier than three years after Russia has put the necessary legislation in place and accumulated some practice, Finance Minister Alexei Kudrin said on Monday.
"Russian companies hold IPOs in Moscow all the time. To be considered an international center, of course, we need large (international IPOs), but they are unlikely to happen soon," he said, adding that "legislation and practice will not be ready earlier than three years time."
The creation of an International Financial Center, one of President Dmitry Medvedev's favorite projects, was proposed about two years ago.
Alexander Voloshin, head of a working group to set up the center, has said that large IPOs could be held within the next two years.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!