MOSCOW, February 13 (RIA Novosti) - The Russian government has proposed reviewing the division of joint stock companies into open and closed ones, the economics minister said Monday.
"We need to review completely the concept of differentiating between open and closed stock companies," Economic Development and Trade Minister German Gref told a government meeting.
"Now given that enterprises need serious investment from the financial market, it is evident that our legislation does not corporately ensure such dynamics," the minister said.
Gref said there were more than 40,000 joint stock companies in Russia, and only 200 of them were listed. "Forty out of them total 98% of the entire market's capitalization," the minister said. "We should improve legislation on commercial legal entities' regulation."
