MOSCOW, October 31 (RIA Novosti) - Russia's markets regulator is planning to raise the share of initial public offerings by the country's companies on Russian stock exchanges to no less than 50%, a service senior official said Tuesday.
Russia has seen a boom in IPOs by the country's leading companies in recent years. The current regulations restrict the placement of shares on Russian markets to no less than 30% of the offering.
"We are planning to introduce new amendments on the market at the start of the next year," said Vladimir Streltsov, a deputy head of the Federal Financial Markets Service.
The FFMS said earlier in the year that Russian companies are expected to attract some $20 billion this year, the largest sum coming to state-owned company Rosneft, which raised $10.4 billion this summer in Moscow and London in the biggest IPO in Russia's corporate history and the world's fifth largest.
