Deputy Minister of Finance Chebeskov: we expect more listings of companies on the Moscow Exchange
The Ministry of Finance predicts an increase in the number of company listings on the Moscow Exchange. Deputy Minister of Finance of the Russian Federation Ivan Chebeskov spoke about this on the sidelines of the International Business Forum of the Eurasian Development Bank (EDB), quoting him TASS.
He stated that the development of the stock market is one of the department’s tasks, since the correct and efficient distribution of capital in the economy depends on it. According to Chebeskov, organic growth will not be enough, so the Ministry of Finance will encourage businesses to enter the capital market, using all available tools and methods.
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“We expect more listings of companies. This year alone, more than a dozen companies have already entered into initial public offerings,” noted the deputy head of the Ministry of Finance. He also added that the business is listing on the stock exchange, despite external restrictions.
On June 12, the US Department of the Treasury imposed sanctions against the Moscow Exchange and the National Clearing Center (NCC). The latter acts as an intermediary in transactions with currency on the stock exchange and is part of the Moscow Exchange and the National Settlement Depository group. The Moscow Exchange announced that it would stop trading in US dollars and euros on the foreign exchange market, precious metals market, stock and money markets.
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