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Moscow Exchange Ready for IPO by February 2013

01.10.2012 12:22 / Interfax

Moscow Exchange will be technically ready for IPO by February 2013, Head Alexander Afanasyev told the press Tuesday.

"The Board of Directors told us to be technically ready by February", he said.

According to Afanasyev, this is due to the fact that the exchange wants to hit the "first Spring opening" with its IPO.

He also mentioned that the IPO preparation is in the agenda at almost every Board meeting.

"We have had a series of meetings with the organizers. In November we will meet organizers and bookrunners` analysts", said Afanasyev.

He also said that work is currently underway on the history of the exchange share dynamics and financial modeling of factors that could influence the financial status of the exchange. He noted that modeling includes factors such as new products rollout, changes in the market and market participants and clients` strategy.

Afaasyev said that the IPO price range will be set later, at the initial road shows.

He also confirmed that the exchange plans to float its shares in Russia. "At any rate, the amount of Russian participation will be significant", he said.

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