The Finance Ministry intends to attract 1 trillion rubles of investments from foreign investors from “friendly” countries to the Russian stock market by 2030, Deputy Finance Minister Ivan Chebeskov said this at a key session of the Capital Markets Forum, RBC writes.
Author:
https://rb.ru/author/bmuzichenko/
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The key to attracting foreign investors will be working with “friendly” jurisdictions, but investors from “hostile” countries are also showing interest in investing, the official stressed.
According to Chebeskov, investments will be attracted as part of the Ministry of Finance’s project to double the capitalization of the Russian stock market, and new IPOs can become the main driver of market growth.
“Here we will have one of the performance indicators – the issue of shares of companies with state participation worth about 1 trillion rubles by 2030,” the Deputy Finance Minister said. He clarified that it is not about privatization, but about the fact that “a number of state-owned companies, in terms of their efficiency in disclosing information, are ready to hold an IPO.”
Until 2022, foreign investors were actively investing in instruments of the Russian stock market. According to the Moscow Stock Exchange, the share of foreign institutional investors in the ownership of Russian shares in free float reached 70%. Now, due to counter-sanctions by the Russian authorities and the Moscow Stock Exchange, almost the entire package is frozen: the assets of only 2% of non-residents are not blocked.
Author:
Bogdan Muzychenko
Source: RB
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