On April 10, the Moscow Stock Exchange launched a platform for over-the-counter trading of unlisted shares. Until now, there will be documents from seven Russian companies: PJSC Nitel, PJSC Krasnogorsk Plant bears the name. SA Zvereva, PJSC Udmurtneft, Obneftegazgeologiya, PJSC Novoship, PJSC Ufaorgsintez, PJSC Fortum.
The main conditions for entering the platform are that companies must be public and have disclosed financial statements in accordance with IFRS, RBC learned.
The new platform – OTS (Over-the-Counter – over-the-counter market) with the National Clearing Center as the central counterparty – will differ from the current MOEX Board. In the latter, the seller and the buyer transact directly, and in the OTC, the central counterparty will participate in the transactions. MOEX Board is “a system of indicative prices, a kind of bulletin board”, where there are no obligations on both sides.
On the new site, the price movement limits will be set at approximately 40% in both directions. The company expects the main bidders to be private Russian investors. There will be no minimum and maximum lot size: it will be possible to buy or sell both one and one million shares.
By the end of 2023, the site plans to consider supporting several dozen more local businesses.
Author:
karina pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
