A maiden Systema IPO to a lump $1.56 billion came as the biggest-ever Russian corporate public listing transaction, the LSE press service said to Novosti. The Systema has offered 1,831,563 ordinary shares as 91,578,150 global deposit receipts, at 50:1.
In token of the spectacular deal, Vladimir Yevtushenkov, Systema President, had the honor of opening LSE markets today. He switched on a Source installation in the hall of the new Exchange premises as market progress symbol.
Clara Firth, LSE Director, was accompanying the Russian tycoon. She said she was pleased to see the Systema choosing London to list its securities outside Russia. Asset attraction on this transaction comes as practical proof of a lucrative access to global capital plus the world's highest regulation and corporate management standards. The London markets are providing Russian-based companies with all that, she pointed out in a greeting address.
The LSE basic market is trading for now in thirteen Russian-based companies' securities. Their summary LSE turnover for last year came close to 64 billion US dollars-76 per cent above 2003 achievements. Russian securities made an impressive 59 per cent of the IOB lump trade turnover for 2004.
