“One Russian issuer just bucked the trend in impressive fashion: the exchange itself. The Central Bank of Russia (CBR) last week sold a nearly 12 percent stake in MOEX in a private placement worth some $500 million at 60 rubles, or some $1.75, per share. The issue was four times oversubscribed. Aside from signaling investor demand, MOEX stressed that the transaction brought its free float above 50 percent for the first time — bucking another trend in statist Russia, where other promised privatizations have been delayed for years. The MOEX placement was arranged by Goldman Sachs Group and JPMorgan Chase & Co., along with Russia’s Sberbank and VTB Capital.”

http://www.institutionalinvestor.com/Article/3359817/Banking-and-Capital-Markets-Banking/Russian-Stocks-Stagnate-but-Moscow-Exchange-Shares-Soar.html

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