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Chinese Underwriters Can Attract More Investors to Russian Stocks

© REUTERS / Kim Kyung-HoonA Chinese national flag flies at the headquarters of the People's Bank of China, the country's central bank, in Beijing, China, January 19, 2016
A Chinese national flag flies at the headquarters of the People's Bank of China, the country's central bank, in Beijing, China, January 19, 2016 - Sputnik International
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Involving a Chinese underwriter would create a high level of confidence in the issuing of Russian Eurobonds, and will attract Chinese investors to Russian stocks, the director general of the IC Center Capital investment company told Sputnik.

James Clapper, Director of National Intelligence. - Sputnik International
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MOSCOW (Sputnik) The Russian Finance Ministry has sent 25 foreign and 3 Russian banks request for proposals for the provision of services on the placement of Russian Eurobonds for 2016. An adviser to the head of the Russian subsidiary of Bank of Сhina told RIA Novosti that the bank was interested in the placement of Russia's Eurobonds.

"The interest of a Chinese underwriter in Russian assets is a big step forward – Chinese banks see the opportunities of our sovereign on the Chinese market and are ready to support it," Anna Nesterova said.

According to Nesterova, the placement of Eurobonds in yuan would create an additional benchmark interest rate for Russian companies on the Chinese market. She reminded that an earlier statement by the Russian Finance Ministry about plans to release 2016 yuan bonds on the Moscow stock exchange was the first sign of serious cooperation with China in the stock market sector.

Last November, Moscow announced that treasury bonds in yuan would be issued in 2016.

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