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Moscow Exchange Top Managers to Meet Investors 4 February

01.02.2013 09:24 / Interfax

The first Moscow Exchange MICEX-RTS top management IPO meeting with investors is due on Monday, 4 February, said source in a Western fund, who had been invited by the bookrunners.

The investor meeting is planned to be held by Head of Exchange Alexander Afanasiev, Moscow Exchange Primary Market Development MD Ekaterina Novokreshchenykh, Derivatives Market MD Roman Sulzhik, and CFO Evgeny Fetisov, who recently joined the exchange from Da Vinci Capital.

Moscow Exchange officially announced IPO plans on 21 January. Bookrunners value the exchange at $4,2-6bn. Financial market sources say the total deal amount is estimated at some $500mn.

Joint global coordinators and bookrunners are Credit Suisse, J.P. Morgan, Sberbank CIB and VTB Capital, joint bookrunners are Deutsche Bank, Goldman Sachs International, Morgan Stanley, Renaissance Capital and UBS.

On Thursday, IPO preparation was reviewed by the Exchange Advisory Board, who did not reach an agreement on IPO parameters, two sources told Interfax.

The Advisory Board was to have arrived at a road show start date and Exchange IPO valuation.

"The valuation issue has not been resolved. Organizers presented their vision, but the Advisory Board opinion is different. There are two possible solutions", said a source, without naming the potential estimates.

Another source claims the Advisory Board meeting was adjourned until Friday. He said the Board of Directors may meet within the next few days, or the meeting may not be held at all. "This will be clear on Friday", said the source.

Monday 4 February or Tuesday were discussed as tentative road show start dates.

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