Presentation of RTS new project. The slogan reads: "RTS Stock Exchange."
Photo: Grigory Tambulov
| Other Photos |
 |
|
 |
RTS Has 0.3 Percent to Create Stock Exchange
RTS stock exchange confirmed yesterday the intention to buy out the majority stake in Innex Donetsk Stock Exchange. For RTS, market players speculate, the key target of the acquisition is capitalization growth. But for this purpose, RTS will not only have to create a stock exchange from scratch but also to withstand competition of Ukraine’s biggest stock exchange – the First Stock Trading System (PFTS).
The final placement of new stocks of Innex Donetsk Stock Exchange has been slated for August 31 and RTS intends to buy out 60 percent as a result, said Alexey Sukhorukov, deputy board chairman at RTS.
According to previous statements of RTS, the placement of Innex new stocks will be effected in two stages. The first one will begin July 4 with the stocks offered to holders under preemptive right. RTS will buy out the remainder from August 4 to 31 during the second stage. Currently RTS owns a stock of Innex, sources with RTS said.
Innex emerged in 1996 as Donetsk Stock Exchange. It is a member of Donbass Industrial Union and its market share in Ukraine stands at 0.3 percent.
Innex is RTS sole strategic partner in Ukraine “for creating an all-Ukrainian trading floor,” Sukhorukov pointed out. That market has lured RTS because of skyrocketing rates of economy advance of Ukraine. “The stock market of the country is a very interesting and promising floor both for Russian and for global players,” according to Sukhorukov.
What’s more, RTS will probably avoid paying for the majority stake in Innex. “”Transferring RTS technology to Donetsk floor could be viewed as payment for stocks,” RTS BOD member and Aton General Derector Alexander Kandel said yesterday.
www.kommersant.com
All the Article in Russian as of June 26, 2007
|
|
|
