Watchdog suggests strategic companies to list 25% of shares abroad
MOSCOW, March 14 - RAPSI. The Federal Antimonopoly Service has proposed to allow Russian strategic companies to list 25 percent of their shares on foreign stock exchanges, Igor Artemyev, the head of the service, told journalists on Wednesday.
He said a governmental committee may consider the proposal at its next meeting in early April.
Artemyev noted that the proposal is related to Polyus Gold's re-listing on the London Stock Exchange. The issue is also expected to be considered during the committee meeting in April.
The governmental committee on foreign investments has twice suspended the issue of transferring control over Polyus Gold to another holding.
Artemyev initially said the delay was caused by the development of bidding terms as Polyus Gold is a large strategic company whose major assets are located in Russia and the government thereby could restrict the free circulation of its shares on the LSE.