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Putin instructs Fund of Direct Investments to support IPOs inside Russia

March 27, 2012, 16:18 UTC+3
"We should be working with Russian businesses which have IPO plans,” Putin said
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, March 27 (Itar-Tass) —— Russian Prime Minister Vladimir Putin has instructed the Russian Fund of Direct Investments to provide assistance to companies that plan to conduct initial public offerings on Russian exchanges.

“The fund has invested tangibly in the unification of the two exchanges (the RTS and the MICEX), so I believe that the next step is to be made now. We should be working with Russian businesses which have IPO plans,” Putin said at a meeting with the fund’s chief Kirill Dmitriyev.

“Yes, this is very true,” Dmitriyev said. “Ever more companies wish to place their shares on Russian floors. They see chances for forming Russian capital.”

Putin recalled that last year he held a meeting with the chiefs of Russia’s major investment funds, involved in the Russian Fund of Direct Investments, and suggested another such meeting.

“This dialogue must be continued. Invite them to the next meeting in St. Petersburg during the economic forum,” Putin asked.

“We shall certainly do that,” Dmitriyev replied. “In fact, all of them are prepared to come to the St. Petersburg Forum. We would very much like to meet with you, if we had such an opportunity.”

“Settled,” said Putin, who at the beginning of May will be inaugurated as Russia’s president again. By tradition the head of state participates in the St. Petersburg economic forum.

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