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Listing Agents

A listing agent is an organization that acts as a guide for innovative and growing companies to enter the MICEX Stock Exchange.

The listing agent will be a strong support for the issuer, beginning with its first steps in the IGC Sector of the stock market. With the publicity obtained during this process, it will be easier for the issuer to continue down this path.

The institute of listing agents is intended to reduce risks of investors, create and raise the transparency level of companies in IGC Sector of the MICEX Stock Exchange. Therefore, listing agent status is only given to organizations with experience in the sphere of corporate financing and investment consulting: organizing and underwriting bonded loans, bringing companies into the stock market, organizing IPO, management, legal, tax and audit consulting, analytical support to the issuer, and rendering PR services – shares and marketing financial products.

Listing agents perform the following functions:

  • Preparing, in accordance with the Listing Regulations, the set of documents necessary for the issuer to submit the application for admitting securities for offering, as well as the application for accepting securities to circulation with or without the listing procedure;
  • Signing the issuer’s investment memorandum and corporate calendar, which the issuer presents when he is accepted to trading securities on the MICEX SE CJSC and their support in the Innovative and Growing Companies Sector, the contents of which are approved by the Directorate of the MICEX SE CJSC.
  • Aiding the company’s information disclosure process and providing validity during the security’s offering and support stages in the Sector.

Accreditation of listing agents is valid for 1 year, which can be renewed later on.

Applications for accrediting companies as listing agents are accepted by the MICEX Stock Exchange Listing Department (contact phone: +7 (495) 234–4816).

More Information:
The goals of the special Innovative and Growing Companies Sector (IGC Sector) are creating conditions for effectively attracting investments to the innovative and rapidly growing sector of the economy by SME companies, creating prerequisites for mass IPO of these companies, and solving venture financing problems in the country. The IGC Sector is intended to provide companies with relatively small capitalization (from 100 mln to 5 billion rubles) with access to the market. Securities of these issuers will demand minimum liquidity and it will also be necessary to execute an agreement with the listing agent. This sector focuses on companies in the high-tech sector — telecommunications, internet business, software development, radio-electronics and semi-conductors, biotechnologies and pharmacy, etc. Another criteria for entering the sector will be a gain of over 20% a year.

Provision on Accrediting Listing Agents (In Russian)

Press-Release from November 27, 2006

Press-Release from November 28, 2006 (In Russian)