MOSCOW, September 1. /TASS/. President Vladimir Putin supported the idea of mandatory placement of shares of businesses bought out from foreign companies leaving Russia on the stock exchange, Deputy Finance Minister Alexey Moiseyev told reporters.
"The President supported this mechanism. Now, in a number of cases, when the Commission considers the withdrawal of foreigners (foreign companies - TASS) various requirements are introduced where it is appropriate. One of these requirements is the obligation to list a part of shares within a certain period. I don't want to name what [these] companies are, these are public companies that have a free float. We are talking about the timeframe [to list shares] in 2-3 years."
Earlier, the Finance Ministry reported that one of the conditions for buying out Russian businesses of non-residents leaving the country could be the placement up to 20% of the shares of their Russian assets on the domestic stock exchange.
Bank of Russia’s Chief Elvira Nabiullina said that the regulator was in favor of the mandatory placement of part of the shares of such businesses on the stock exchange upon their buy-out from non-residents. The regulator is discussing this issue with the government, she noted. A subcommittee of the government commission on foreign investment is authorized to issue permits for transactions to acquire Russian assets from unfriendly non-residents leaving the country.