Moscow Exchange’s IPO Shoring up Demand
Investors have bid for all shares offered by the Moscow Exchange MICEX-RTS. The Russian Direct Investment Fund (RDIF) and the sovereign wealth enterprise, Chengdong Investment Corporation which is owned by the China Investment Corporation (CIC) shored up demand. The CIC may end up with up to 25% of the shares being offered in the IPO.
The Moscow Exchange plans to use some of the IPO proceeds to boost the capital of the National Clearing Center and upgrade its trading system.
It is rumored the Qatar Investment Authority may inject capital into VTB, Russia’s number two bank.