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Moscow Exchange will trade shares of foreign companies

Economy
02.06.2021
53
Moscow Exchange will trade shares of foreign companies

The Moscow Exchange is preparing to list the most liquid securities of foreign companies traded in the S&P 500 (the organization with the largest capitalization), Forbes reports.

At the first stage, fifty companies will be listed on the trading platform in two rounds. From 17 August, according to preliminary plans, the securities of the first twenty organizations will start trading on the exchange, the shares of the remaining thirty will appear on the trading platform in November.

It is also known that from August it will be possible to purchase shares of such companies as Amazon, Apple, NVIDIA, Microsoft, Twitter, Facebook, Visa and others.

In the second stage, shares of companies such as Nike, PayPal, General Electric and Cisco Systems will be admitted to trading.

Trades will be held in Russian rubles during daytime and evening sessions, and dividends on securities will be converted in US dollars.

After November, the Moscow Exchange will be adding 70 new shares every three months. However, the terms and the list of companies will be discussed with market representatives and market makers who will support the quotation of the securities.

At the moment, shares of foreign companies are already traded on the Moscow Exchange, but all of them have their own Russian assets. For example, X5 Retail Group controls the Pyaterochka, Perekrestok and Karusel chains; Lenta Ltd. owns part of Lenta hypermarkets; TCS Group owns part of Tinkoff Bank.

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