RTS Stock Exchange president and major stockholder Oleg Safonov felt the increased interest in Russian stock for himself yesterday.
Photo: Alexey Kudenko
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RTS Soars on the RTS
Quotations of shares in the RTS on the RTS Board section jumped 8 percent yesterday. Interest was sparked by the sales of a package of stock in one of RTS' largest shareholders, KIT Finance investment bank. There were a total of 2390 trades with that stock worth $1.29 million, or less than 0.15 percent of the authorized capital of the RTS. The average price of one share in RTS was $500-550 in those transactions. The rise in value of the stock is seen as a sign of the market's approval of the exchange's operations.
Authorized capital in OAO RTS Stock Exchange, one of the main stock exchanges in Russia, is divided into 1,599,000 common shares. As of June 30 of this year, the exchange had 25 shareholders. No single shareholder is allowed to own more than 10 percent in the exchange. Among the main shareholders are United Finance Group (9.9998%), Troika Dialog (9.9998%), Aton (9.816%), Renaissance Broker (6.92%), KIT Finance brokerage company (5.63%), KIT Finance investment bank (5.43%), Alfa Bank (5.357%), Uralsib Capital (5.357%) and the RTS management (5%).
The sale of a 1.05-percent share in KIT Finance investment bank to a Russian investment fund has reduced the company's total share in the RTS to 10 percent. The shares of other holders may have changed in yesterday's trading as well, since many of them expressed their desire to increase their shares. European and American financial institutions have also expressed interest in the exchange. It became possible to trade in RTS stock at the end of May, when it was listed on the RTS Board. Since then, the price of a share has grown from $200 to $590, and capitalization has increased from $310 million to $875 million.
www.kommersant.com
All the Article in Russian as of Aug. 30, 2007
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