MOSCOW Jan 17 The Moscow Exchange, Russia's
major stock exchange, plans to start pre-marketing an initial
public offering of its shares next week, two sources familiar
with the Exchange's plans told Reuters on Thursday.
One source said that the Exchange aims to raise between $300
million and $500 million through the IPO for selling
Earlier on Thursday, the daily Kommersant reported that the
Exchange's board of directors would decide on Feb. 1 whether to
hold the share sale in February.
A third source familiar with the exchange's plans said the
size and timing of the share sale remained unclear, but its
backers were aiming to complete the deal in the first half of
A sole domestic listing is planned, the source added,
dismissing reports of a dual listing in Moscow and London.
The Moscow Exchange was formed in 2011 following the merger
of Moscow's two largest stock exchanges, MICEX and the
RTS. The merger is part of Russia's drive to improve
financial market infrastructure as it seeks to turn the Russian
capital into an international financial centre.
The exchange's largest shareholder is the Central Bank of
Russia with a 24.3 percent stake.