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Russian software provider IBS Group not to list on Moscow Exchange

May 22, 2014, 14:35 UTC+3 ST. PETERSBURG
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ST. PETERSBURG, May 22. /ITAR-TASS/. Russia’s IBS Group, one of the country’s leading software and IT services provider, has no plans to place shares on the Moscow Exchange, Anatoly Karachinsky, the group’s founder and president, said on the sidelines of the St. Petersburg International Economic Forum on Thursday.

“We are not considering the matter. We are closely watching (domestic e-payment system) Qiwi, which is estimating such an option,” Karachinsky said.

IBS Group’s shares are traded on the Frankfurt Stock Exchange, while the stocks of its software unit are traded on New-York floors.

Russian First Deputy Prime Minister Igor Shuvalov earlier asked domestic companies to delist from Western stock exchanges with a simultaneous listing in Moscow.

“Of course, everyone gets the jitters…As it always happens in such situations. But we hear from our investors, that they all want to buy shares. And they complain of their short supply and fluctuations, which is partially provoked by the political situation,” Karachinsky said.

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