20.01.2025, 18:25
The Bank of Russia has proposed to increase the transparency of companies entering the stock exchange
Source: OREANDA-NEWS
OREANDA-NEWS The Bank of Russia proposes to increase the transparency of public share offerings. To do this, as follows from the regulator's report submitted for public consultation, it is necessary to change the content of information disclosed by issuers and adapt it to the needs of retail investors, whose role has increased in the Russian equity market.
"The Russian equity market is restoring its potential at the expense of internal resources," the Central Bank recalled, pointing out that in order to form long—term investments, it is necessary to strengthen the trust environment and information openness, and therefore considers it necessary to update the requirements for the content of important documents for investors.
According to the Central Bank, the inclusion of the issuer's forecast indicators in the securities prospectus will improve the quality of the IPO (initial public offering), which will make it possible to make informed investment decisions in a short and understandable summary.
Companies will be asked to provide investor-sensitive data on the planned and actual distribution of shares among buyers. "Prior to the public offering, information should be disclosed about restrictions on the sale of securities by the issuer and current shareholders, as well as the mechanisms used to stabilize the share price to reduce their volatility after the IPO," the authors of the report indicate.
The Bank of Russia also suggests discussing the possibility of introducing regulation and standardization of services provided by placement organizers, which should also improve the quality of IPOs.
Earlier it became known that the value of the net assets of exchange-traded mutual funds (BPIF) of the money market on the Moscow Stock Exchange increased 4.4 times in 2024, exceeding one trillion rubles. The popularity of the instrument, in which the fund invests in the securities forming the index, and the client buys a share in the investment portfolio compiled on it, has increased sharply against the background of an increase in the key interest rate.
"The Russian equity market is restoring its potential at the expense of internal resources," the Central Bank recalled, pointing out that in order to form long—term investments, it is necessary to strengthen the trust environment and information openness, and therefore considers it necessary to update the requirements for the content of important documents for investors.
According to the Central Bank, the inclusion of the issuer's forecast indicators in the securities prospectus will improve the quality of the IPO (initial public offering), which will make it possible to make informed investment decisions in a short and understandable summary.
Companies will be asked to provide investor-sensitive data on the planned and actual distribution of shares among buyers. "Prior to the public offering, information should be disclosed about restrictions on the sale of securities by the issuer and current shareholders, as well as the mechanisms used to stabilize the share price to reduce their volatility after the IPO," the authors of the report indicate.
The Bank of Russia also suggests discussing the possibility of introducing regulation and standardization of services provided by placement organizers, which should also improve the quality of IPOs.
Earlier it became known that the value of the net assets of exchange-traded mutual funds (BPIF) of the money market on the Moscow Stock Exchange increased 4.4 times in 2024, exceeding one trillion rubles. The popularity of the instrument, in which the fund invests in the securities forming the index, and the client buys a share in the investment portfolio compiled on it, has increased sharply against the background of an increase in the key interest rate.
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