DOCSLIB.ORG

Company News SECURITIES MARKET NEWS LETTER Weekly

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Company News SECURITIES MARKET NEWS LETTER Weekly SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody August 30, 2018 Issue No. 2018/32 Company News Putin approves injecting capital into United Shipbuilding Corporation On August 24, 2018 it was reported that Russian President Vladimir Putin approved a government proposal to inject additional capital into United Shipbuilding Corporation (USC) by transferring a 6.0975% plus one share state interest in Zelenodolsk Design Bureau to USC in exchange for new shares. The president also approved transferring a 75% minus one stake in Zelenodolsk Design Bureau and 11.9021% in Zelenodolsk shipbuilding plant named after A.M. Gorky into ownership of the Tatarstan republic. Government nominates Siluanov to Promsvyazbank supervisory board On August 24, 2018 it was announced that the Russian government nominated First Deputy Prime Minister, Finance Minister Anton Siluanov and representatives of the Defense Ministry to the supervisory board of Promsvyazbank. The nominees also include the Federal Treasury’s head Roman Artyukhin, First Deputy Finance Minister Leonid Gornin, Deputy Defense Minister Alexei Krivoruchko, Deputy Finance Minister Alexei Moiseyev, and Deputy Defense Minister Tatyana Shvetsova. In January, the Finance Ministry said that the government would create a bank based on Promsvyazbank to handle defense order contracts in the conditions of Western sanctions. In late May, Prime Minister Dmitry Medvedev signed a ruling to transfer 100% in Promsvyazbank to the state. MTS buys back 0.0534% of stock under repurchase program On August 27, 2018 it was stated that major Russian mobile operator MTS bought back 1,067,230 own shares, both common shares and American depositary receipts (ADRs), representing 0.0534% of its capital, through its wholly-owned subsidiary, Bastion LLC. Bastion LLC purchases MTS shares under a repurchase plan launched on July 2 and since then has acquired 11,002,282 shares, or 0.5506% of MTS’ capital. MTS intends to buy back its stock for up to RUB 30 bln starting from July 2 during two years. The operator’s common shares closed at RUB 251.55 on August 24 in Moscow and its ADRs at USD 7.58 in New York. Lukoil’s owners approve cancellation of 11.82% treasury stake On August 27, 2018 shareholders of Russian oil company Lukoil approved canceling 100.6 mln treasury shares, or an 11.8% stake, in order to reduce capital of the company. The shares will be sold by Lukoil’s 100% affiliate Lukoil Securities Limited for RUB 3,949 per security. After the acquisition by Lukoil, its charter capital will be cut to 750 mln common shares. Bids will be accepted from September 17 until October 16. The payment period is no later than on October 30. Lukoil gave 40 mln treasury shares to an incentive plan for executives. Moscow Exchange excludes MegaFon shares from indices from August 30, 2018 On August 29, 2018 it was reported that the Moscow Exchange would exclude shares of mobile operator MegaFon, traded under the MFON ticker, from trading indices from August 30, 2018. The exchange stated that on 30 August 2018, MegaFon shares would leave the MOEX Russia Index, RTS Index, MICEX Broad Market Index, RTS Broad Market Index, MICEX Telecoms Index, RTS Telecoms Index and Equity Subindex of the Pension Indices following the buyback of own shares by the company and the reduction of the company’s free float to 2%. From August 30, the updated values of divisors will be used to calculate the indices mentioned above. MegaFon purchased its common shares and global depositary receipts from July 16 through August 22 to delist from the London Stock Exchange. The operator received applications to purchase 18.6% of its shares from minority holders with the free float of almost 21%. 1 Aeroflot board extends powers of CEO Savelyev for 5 years On August 29, 2018 the board of directors of Russian national flagship air carrier Aeroflot extended powers of CEO Vitaly Savelyev for five years. Savelyev has been CEO of Aeroflot since April 2009. LSR Group board appoints ex-minister Sokolov as CEO On August 29, 2018 the board of directors of Russian real estate developer LSR Group appointed former Transport Minister Maxim Sokolov as the CEO. Former CEO Andrei Molchanov was appointed as the chairman of the board of directors. Russian Agricultural Bank may further raise capital On August 30, 2018 Kirill Levin, First Deputy CEO of Russian Agricultural Bank, said that the bank had already raised its capital by the required RUB 20 bln and did not rule out a further capital boost. Levin said in May that the bank’s capital would be raised by RUB 5 bln in July, while an increase by additional RUB 10 bln would be agreed on with the government. In April, the bank placed RUB 15 bln perpetual bonds. VTB obtains 19.9% of TNS Energo in direct ownership On August 30, 2018 it was reported that Russia’s second largest lender VTB Bank obtained 19.9% of wholesale power distributor TNS Energo Group in direct ownership. The repo deal on the stake was closed on August 29. In January, VTB said it had transferred the stake from direct shareholding to indirect via wholly-owned Holding VTB Capital. Dividends/coupons Polyus may pay RUB 131.11 per share in dividends for January-June 2018 On August 24, 2018 the board of directors of Russian gold producer Polyus recommended paying RUB 131.11 per share in dividends for January-June. The shareholders are to discuss the recommendation at an extraordinary general meeting on September 28. The record date for the dividends is October 18. The company paid RUB 104.3 per share in interim dividends for January-June 2017, and RUB 147.12 per share in final dividends for 2017. Tycoon Said Kerimov is the major beneficiary owner of Polyus. Novatek may pay RUB 9.25 per share in dividends for January-June 2018 On August 24, 2018 the board of directors of Russian independent gas producer Novatek recommended paying RUB 9.25 per share in dividends for January-June. The record date is October 10. In April, the shareholders of Novatek approved paying RUB 24.29 bln, or RUB 8 per share, in final dividends for 2017. The company also paid RUB 6.95 per share in dividends for January-June 2017, so the total dividend payout for 2017 reached RUB 14.95 per share, or RUB 45.39 bln. Rosneft board sets October 9 as record date for January-June 2018 dividends On August 24, 2018 the board of directors of Russian oil major Rosneft set October 9 as the record date for dividends for January-June. On August 28, the board recommended paying RUB 14.58 per share, or a total of RUB 154.5 bln, in dividends for the period. The shareholders will consider the recommendation at an extraordinary general meeting on September 28. The company’s net profit amounted to RUB 309 bln in January-June, and its dividend policy encompasses paying at least 50% of the net profit in dividends no less than twice a year. Rosneft paid RUB 10.48 per share, or RUB 111 bln, in dividends for 2017, including interim dividends. VSMPO-Avisma board recommends RUB 8.7 bln in January-June 2018 dividends On August 24, 2018 the board of directors of Russian titanium giant VSMPO-Avisma recommended paying RUB 756 per share, or RUB 8.7 bln, in dividends for January-June. The shareholders will consider the recommendation at an extraordinary general meeting on September 28. The register for the meeting will be closed on September 3. VSMPO-Avisma paid RUB 762.68 per share in dividends for January-June 2017. State industrial corporation Rostec holds 25% plus one share in VSMPO-Avisma. Expotrade, controlled by the management of VSMPO-Avisma, has 65.27%. Globaltrans board recommends RUB 8.2 bln in dividends for January-June 2018 On August 28, 2018 the board of directors of Russian rail cargo operator Globaltrans approved paying RUB 8.2 bln, or RUB 45.9 per share or global depositary receipt (GDR), in dividends for January-June. The sum includes RUB 3.8 bln of interim dividends envisaged by the company’s dividend policy, and RUB 4.4 bln of special interim dividends. 2 Nordgold board approves USD 9.6 mln in dividends for April-June 2018 On August 28, 2018 the board of directors of gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, approved dividends for April-June at USD 9.6 mln, or USD 0.0284 per share. The record date is August 30, the payment date is September 7. The company’s policy envisages paying 30% of its normalized net profit attributable to shareholders in dividends. Nordgold already paid USD 11.2 mln, or USD 0.0331 per share, in dividends for January-March. For 2017, the company paid USD 0.0322 per share, or a total of USD 11 mln, in dividends for January-March, USD 16.5 mln, or USD 0.0482 per share, for April-June, USD 10.8 mln, or USD 0.0318 per share, for July-August, and USD 15.3 mln, or USD 0.045 per share, for October-December. GV Gold board recommends paying RUB 1 bln in January-June 2018 dividends On August 28, 2018 the board of directors of Russia’s gold producer GV Gold recommended paying RUB 1.02 bln, or RUB 18.551942 per share, in dividends for January-June. The shareholders will consider the recommendation at an extraordinary general meeting on September 29. GV Gold paid RUB 700 mln in interim dividends for January-June 2017 and RUB 2.238 bln, or RUB 40.6973 per share, in dividends for 2017.
Load more

Recommended publications
  • Russian M&A Review 2017
    Russian M&A review 2017 March 2018 KPMG in Russia and the CIS kpmg.ru 2 Russian M&A review 2017 Contents page 3 page 6 page 10 page 13 page 28 page 29 KEY M&A 2017 OUTLOOK DRIVERS OVERVIEW IN REVIEW FOR 2018 IN 2017 METHODOLOGY APPENDICES — Oil and gas — Macro trends and medium-term — Financing – forecasts sanctions-related implications — Appetite and capacity for M&A — Debt sales market — Cross-border M&A highlights — Sector highlights © 2018 KPMG. All rights reserved. Russian M&A review 2017 3 Overview Although deal activity increased by 13% in 2017, the value of Russian M&A Deal was 12% lower than the previous activity 13% year, at USD66.9 billion, mainly due to an absence of larger deals. This was in particular reflected in the oil and gas sector, which in 2016 was characterised by three large deals with a combined value exceeding USD28 billion. The good news is that investors have adjusted to the realities of sanctions and lower oil prices, and sought opportunities brought by both the economic recovery and governmental efforts to create a new industrial strategy. 2017 saw a significant rise in the number and value of deals outside the Deal more traditional extractive industries value 37% and utility sectors, which have historically driven Russian M&A. Oil and gas sector is excluded If the oil and gas sector is excluded, then the value of deals rose by 37%, from USD35.5 billion in 2016 to USD48.5 billion in 2017. USD48.5bln USD35.5bln 2016 2017 © 2018 KPMG.
    [Show full text]
  • Notes on Moscow Exchange Index Review
    Notes on Moscow Exchange index review Moscow Exchange approves the updated list of index components and free float ratios effective from 16 March 2018. X5 Retail Group N.V. (DRs) will be added to Moscow Exchange indices with the expected weight of 1.13 per cent. As these securities were offered initially, they were added without being in the waiting list under consideration. Thus, from 16 March the indices will comprise 46 (component stocks. The MOEX Russia and RTS Index moved to a floating number of component stocks in December 2017. En+ Group plc (DRs) will be in the waiting list to be added to Moscow Exchange indices, as their liquidity rose notably over recent three months. NCSP Group (ords) with low liquidity, ROSSETI (ords) and RosAgro PLC with their weights now below the minimum permissible level (0.2 per cent) will be under consideration to be excluded from the MOEX Russia Index and RTS Index. The Blue Chip Index constituents remain unaltered. X5 Retail Group (DRs), GAZ (ords), Obuvrus LLC (ords) and TNS energo (ords) will be added to the Broad Market Index, while Common of DIXY Group and Uralkali will be removed due to delisting expected. TransContainer (ords), as its free float sank below the minimum threshold of 5 per cent, and Southern Urals Nickel Plant (ords), as its liquidity ratio declined, will be also excluded. LSR Group (ords) will be incuded into SMID Index, while SOLLERS and DIXY Group (ords) will be excluded due to low liquidity ratio. X5 Retail Group (DRs) and Obuvrus LLC (ords) will be added to the Consumer & Retail Index, while DIXY Group (ords) will be removed from the Index.
    [Show full text]
  • An Overview of Boards of Directors at Russia's Largest Public Companies
    An Overview Of Boards Of Directors At Russia’s Largest Public Companies Andrei Rakitin Milena Barsukova Arina Mazunova Translated from Russian August 2020 Key Results According to information disclosed by 109 of Russia’s largest public companies: “Classic” board compositions of 11, nine, and seven seats prevail The total number of persons on Boards of the companies under study is not as low as it might seem: 89% of all Directors were elected to only one such Board Female Directors account for 12% and are more often elected to the audit, nomination, and remuneration committees than to the strategy committee Among Directors, there are more “humanitarians” than “techies,” while the share of “techies” among chairs is greater than across the whole sample The average age for Directors is 53, 56 for Chairmen, and 58 for Independent Directors Generation X is the most visible on Boards, and Generation Y Directors will likely quickly increase their presence if the impetuous development of digital technologies continues The share of Independent Directors barely reaches 30%, and there is an obvious lack of independence on key committees such as audit Senior Independent Directors were elected at 17% of the companies, while 89% of Chairs are not independent The average total remuneration paid to the Board of Directors is RUR 69 million, with the difference between the maximum and minimum being 18 times Twenty-four percent of the companies disclosed information on individual payments made to their Directors. According to this, the average total remuneration is approximately RUR 9 million per annum for a Director, RUR 17 million for a Chair, and RUR 11 million for an Independent Director The comparison of 2020 findings with results of a similar study published in 2012 paints an interesting dynamic picture.
    [Show full text]
  • Outstanding Shares
    PJSC RusHydro | Annual Report 2018 Share of securities in free float1 Shareholder agreements Date Free-float factor RusHydro’s shareholders can enter into Last trading day of 2016 0.23 shareholder agreements, including Last trading day of 2017 0.25 those that afford them an extent of Last trading day of 2018 0.19 control disproportionate to their contribution to the authorized capital2. Notifications on concluded shareholder agreements received by RusHydro Parties to the shareholder agreement Date of the shareholder agreement ↗ The Russian Federation as represented by the Federal Agency for State Property Management March 7, 2017 ↗ VTB Bank (PJSC) ↗ The Russian Federation as represented by the Federal Agency for State Property Management June 23, 2016 ↗ RusHydro’s subsidiaries: Hydroinvest3, EZOP, Energy Index – HydroOGK Outstanding shares Moscow Exchange listing Index inclusion: ↗ FTSE All-World Index AWORLDS; ↗ MOEX Russia Index (previous name – ↗ FTSE4Good Emerging; The Company’s shares have been MICEX Index) IMOEX; ↗ NASDAQ Russia NQRU; traded on the Moscow Exchange ↗ Electric Utilities Index MOEXEU; ↗ Nasdaq AlphaDEX Emerging Markets (formerly MICEX Stock Exchange). ↗ Broad Market Index MOEXBMI; NQDXEM; since February 4, 2008 (ticker: HYDR). ↗ State-Owned Companies Index ↗ STOXX Russia Total Market TCRUP; The securities are listed in Level 1, MOEXSCI; ↗ STOXX Optimized Russia EEORGT. the Exchange’s top quotation list. ↗ FTSE Emerging Index AWALLE; Moscow Exchange trading information Item 2016 2017 2018 Trading mode T+: stocks and DRs T+: stocks and DRs T+: stocks and DRs Currency RUB RUB RUB Maximum trade price 0.994 1.100 0.810 Minimum trade price 0.575 0.717 0.476 Year-end trade price 0.926 0.729 0.486 Trading volume, bn pcs 134 173 136 1 In accordance with the Moscow Exchange’s methodology for calculating the free-float factor published at http://www.moex.com/ru/index/MICEXINDEXCF/constituents/.
    [Show full text]
  • Net Profit) in 1Q’21
    TCS Group Holding PLC reports record quarterly profit for the period (net profit) in 1Q’21 Total revenues grew 21% to RUB 56.8 bn in 1Q’21 (1Q’20: RUB 46.9 bn) Net profit rose 57% to RUB 14.2 bn in 1Q’21 (1Q’20: RUB 9.0 bn) Tinkoff Investments assets under custody exceeded RUB 415 bn Non-credit business lines accounted for 43% of revenues and 24% of net profit Total customers reached 14.8 mn in 1Q’21 (1Q’20: 10.8 mn) LIMASSOL, CYPRUS — 11 May 2021. TCS Group Holding PLC (LI: TCS, MOEX: TCSG) (“Tinkoff”, “We”, the "Group", the “Company”), Russia's leading provider of online financial and lifestyle services via its Tinkoff ecosystem, today announces its consolidated IFRS results for the three months ended 31 March 2021. Oliver Hughes, CEO of Tinkoff Group, commented: “We continued to demonstrate profitable growth in the first quarter of 2021 with net profit reaching a new quarterly record of RUB 14.2 bn, as we charged full steam ahead, acquiring new customers and launching cool new features across our product lines. We continue to strengthen Tinkoff Investments by diversifying our investment offering. I am pleased to welcome Anton Malkov on board as the new Head of the Capital Markets Transactions Management Team at Tinkoff Investments to lead our new DCM and ECM effort with a focus on new-economy companies. In April we announced Tinkoff Group’s acquisition of a majority stake in Beskontakt LLC, the developer of the Koshelek app. A digital wallet and Russia’s only mobile app for aggregating bank cards, loyalty cards and coupons, the Koshelek app has a user base that exceeds 20 million and works with the country’s largest retailers.
    [Show full text]
  • Russia & Cis' Largest Virtual Capital Markets Event
    REGISTER YOUR PLACE TODAY AT WWW.BONDSLOANSRUSSIA.COM RUSSIA & CIS’ LARGEST VIRTUAL CAPITAL MARKETS EVENT 500+ 40+ 250+ 100+ 2,100+ SENIOR WORLD CLASS SOVEREIGN, CORPORATE INVESTORS CONTACTS AVAILABLE TO ATTENDEES SPEAKERS & FI BORROWERS NETWORK WITH ONLINE It’s great to have Bonds & Loans with us in all times - good and bad. Our team has particularly enjoyed the networking opportunities, the program is excellent too, and you’ve proved once again your reputation of the leading capital markets event in Russia. Dmitri Surkov, Global Head of Revenue Management, Fitch Ratings Gold Sponsor: Silver Sponsors: Bronze Sponsors: Corporate Sponsors: www.BondsLoansRussia.com BRINGING GLOBAL FINANCE LEADERS TOGETHER WITH THE RUSSIA & CIS CAPITAL MARKETS COMMUNITY Meet senior decision-makers from Russia & the CIS sovereigns, corporates and banks; share knowledge; debate; network; and move your business forward in the current economic climate without having to travel. 500+ 40+ 250+ SENIOR WORLD CLASS SOVEREIGN, CORPORATE 100+ ATTENDEES SPEAKERS & FI BORROWERS INVESTORS Access top market practitioners from Industry leading speakers will share Hear first-hand how local and international Leverage our concierge across the globe who are active in “on-the-ground” market intelligence industry leaders are navigating Russia & the meeting service the Russia & CIS markets, including: and updates on Russia & the CIS’s CIS’s current economic climate/what they to engage with global senior borrowers, investors, bankers & economic backdrop. Gain actionable expect in
    [Show full text]
  • Fundamental Factors Affecting the MOEX Russia Index: Retrospective Analysis1
    Fundamental Factors Affecting the MOEX Russia Index: Retrospective Analysis1 Agata Lozinskaia1[0000-0001-8723-275X] and Anastasiia Saltykova2[0000-0002-4147-6350] 1 National Research University Higher School of Economics, Perm, Russia 2 National Research University Higher School of Economics, Perm, Russia [email protected] Abstract. This paper is an empirical study of the changing nature of the de- pendence of fundamental factors on the stock market index, which is the trend identified earlier in the Russian stock market. We empirically test the impact of daily values of fundamental factors on the MOEX Russia Index from 2003 to 2018. The analysis of the ARIMA-GARCH (1,1) model with a rolling window reveals that the change in the power and direction of the influence of the fun- damental factors on the Russian stock market persists. The Quandt-Andrews breakpoint test and Bai-Perron test identify the number and likely location of structural breaks. We find multiple breaks probably associated with the dra- matic falls of the stock market index. The results of the regression models over the different regimes, defined by the structural breaks, can vary markedly over time. This research is of value in macroeconomic forecasting and in the invest- ment strategy development. Keywords: Russian stock market, fundamental factors, structural instability, structural breaks, rolling regression, breakpoint tests. 1 Introduction Fundamental analysis is widely used to study the Russian stock market [1, 5, 12, 16, 17, 23, 27] and has great importance to study stock market deeply. Despite relative success of using fundamental analysis, there is now mounting evidence that the pa- rameters of regression models are unstable and subject to structural breaks.
    [Show full text]
  • ESG-Digest №3 by Mikhailov & Partners Monthly Issue
    ESG-Digest №3 by Mikhailov & Partners monthly issue Some of the hyperlinks lead to the full version of the article only in Russian July 2021 KEY EVENTS #ESG_global_agenda European Green Deal: Commission proposes transformation of EU economy and society to meet climate ambitions The European Commission adopted a package of proposals to make the EU's climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. A new Carbon Border Adjustment Mechanism will put a carbon price on imports of a targeted selection of products to ensure that ambitious climate action in Europe does not lead to "carbon leakage" More Vladimir Putin and John Kerry had a telephone conversation on climate issues Vladimir Putin claimed that Russia attaches great importance to achieving the goals of the Paris Agreement and stands for a depoliticized and professional dialogue in this area. Putin and Kerry exchanged their views on the prospects of bilateral environmental cooperation in the Arctic. Putin came up with a number of initiatives, including a proposal to establish Russian- American cooperation on collecting climate data using satellites. More Blockchain can help us beat climate change Smart contracts – fully traceable, transparent and irreversible self- executing contracts, running on blockchains – can contribute to the fight against climate change. They allow us to design globally accessible and fully automated incentive systems that can directly reward individuals, companies and governments for taking part in sustainable practices – such as regenerative agriculture, carbon offsets, crop insurance and more. More ESG-Digest, No.
    [Show full text]
  • 25 YEARS of GROWTH in HARMONY with OUR CUSTOMERS Highlights 1
    ANNUAL REPORT 2016 25 YEARS OF GROWTH IN HARMONY WITH OUR CUSTOMERS Highlights 1. Strategic Report 5. For Shareholders and Investors Key Financial Performance Indicators 2. Overview of Operations 6. Sustainable Development Mission and Values 3. Financial Results Contacts 2 / 197 4. Corporate Governance System Appendices www.mkb.ru Annual Report 2016 / Table of Contents Table of Contents Highlights Key Financial Performance Indicators Mission and Values 1. Strategic Report 2. Overview of operations 5. For shareholders and investors Appendices 1.1. Address of the Chairman of the 2.1. Corporate banking 6. Sustainable development Appendix 1. Supervisory Board IFRS Statements 2.2. Retail banking 6.1. Human Resources 1.2. Address of the Chairman of the Appendix 2. Management Board 2.3. Cash handling 6.2. Corporate Culture RAS Statements and Social Responsibility 1.3. Management Responsibility 3. Financial results Appendix 3. Statement 6.3. Information technologies List of interested party transactions 3.1. Income statement analysis made in the reporting year (2016) 1.4. Economy and banking sector 6.4. Society 3.2. Key Results List of major transactions made in 1.5. Business model. 6.5. Environmental Management the reporting year (2016) Competitive advantages. 3.3. Income statement analysis Position in the industry. Contacts List of transactions requiring 3.4. Structure of assets and liabilities approval under the Charter made in 1.6. Strategy under IFRS the reporting year (2016) 1.7. Risk Management 4. Corporate governance system Appendix 4. Report on Compliance with the Principles and Recommendations of the Corporate Governance Code. Highlights 1. Strategic Report 5.
    [Show full text]
  • Annual Report 2018 ABOUT THIS REPORT 02
    AnnuAl RepoRt 2018 ABOUT THIS REPORT 02 1 / 2 ABOUT THIS REPORT Approach to the Report Boundaries of the Report Approval of the Report This Annual Report of Sberbank of Russia ¹ for 2018 (the “Report”) The financial data are presented in the Report Information on sustainable development is consoli- This Report received preliminary approv- in accordance with the IFRS consolidated financial dated by the major participants of the Group, which al by the Supervisory Board of Sberbank includes the performance results of Sberbank and its subsidiaries ² statements, unless otherwise specified in the text of have a significant impact on their regions of pres- (Minutes No. 11 of April 16, 2019). for the reporting period from January 1, 2018, to December 31, 2018. the Report. ence, and Sberbank Corporate University. The reliability of the data in the Report was con- Operational data are presented for PJSC Sberbank firmed by the Audit Committee of Sberbank. unless otherwise specified in the text of the Report. The Report has been prepared in accordance with In addition, the contents of the Report The Report was approved by the Annual General the legislation of the Russian Federation, including: comply with the following documents: Shareholder Meeting of Sberbank as of May 24, 2019 (Minutes No 32 as of May 29, 2019). ♦ Federal Law No. 39-FZ “On the Securities ♦ Requirements of the Moscow Stock The term “Group” as used in the sections “People: Nurturing New Skills in Effective Teams” Market” dated April 22,1996; Exchange on the preparation of annu- and “Impact on Society” includes Sberbank Corporate University and the following: al reports by joint stock companies; ♦ Federal Law No.
    [Show full text]
  • Politics Company News SECURITIES MARKET NEWS LETTER Weekly
    SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody August 02, 2018 Issue No. 2018/28 Politics VEB ex-CEO Gorkov appointed deputy economy minister On July 27, 2018 it was reported that Sergei Gorkov, former CEO of Russia’s state-owned Vnesheconombank (VEB), had been appointed deputy economic development minister. Company News Moscow Arbitration Court cancels bankruptcy case against FESCO On July 30, 2018 the Moscow Arbitration Court cancelled a bankruptcy case against the parent company of Far-Eastern Shipping Company, or FESCO. The case was initiated by company Arsagera. At the previous hearing of the case, FESCO pled for its cancellation citing a law on special bankruptcy proceedings for the company as a natural transportation monopoly. Samolet Group plans USD 250 mln IPO on Moscow Exchange On July 31, 2018 it was reported that Russian real estate developer Samolet Group of Companies was considering an up to USD 250 mln initial public offering (IPO) on the Moscow Exchange. The company has hired JP Morgan Chase & Co and Russia’s VTB Capital to organize an IPO in October-December. Samolet Group’s shareholders approved an IPO on July 30. CEO and co-owner Igor Yevtushevsky confirmed that the company was considering options to raise funds including an IPO. VEON holders choose 3 new members on board of directors On July 31, 2018 shareholders of Amsterdam-headquartered VEON, the sole owner of Russian mobile operator VimpelCom, elected three new members of the board of directors. The new members are Guillaume Bacuvier, Osama Bedier, and Robert Jan van de Kraats. The eight previously serving directors on the board are Ursula Burns, Mikhail Fridman, Gennady Gazin, Gunnar Holt, Andrei Gusev, Julian Horn- Smith, Guy Laurence, and Alexander Pertsovsky.
    [Show full text]
  • Company News SECURITIES MARKET NEWS LETTER Weekly
    SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody March 5, 2020 Issue No. 2020/08 Company News Polyus to become Moscow Exchange’s blue chip instead of Severstal On February 28, 2020 it was reported that the Moscow Exchange planned to include the ordinary shares of Russian gold producer Polyus in its Blue Chip index instead of the shares of steelmaker Severstal on March 20. The depository receipts of multi-industry holding En+ Group will be replaced with its shares, and the shares together with the depository receipts of payment system operator Qiwi will be considered to be added to the MOEX Russia Index and the RTS Index. Other changes to the indices include addition of depository receipts of real estate developer Etalon Group and exclusion of Seligdar from the Broad Market Index, inclusion of ordinary shares of fertilizer producer Acron and Pharmacy Chain 36.6 in the SMID Index, and exclusion of ordinary shares of oil company RussNeft and oil and gas pipe producer TMK from the Oil and Gas Index. The committee also recommended that the Moscow Exchange launch a new sectorial index for the Russian real estate industry. Mail.ru’s board of directors approves listing on Moscow Exchange On March 2, 2020 the board of directors of Russian Internet company Mail.ru Group approved a listing of global depositary receipts (GDRs) on the Moscow Exchange. The plan is for Mail.ru Group’s GDRs to begin trading in Moscow by July. There will not be any secondary issuance accompanying the listing. Russian antitrust clears Fortum to buy stake in Uniper On March 2, 2020 it was announced that Russia’s Federal Antimonopoly Service cleared Finland’s Fortum to acquire a 20.5% stake in Germany’s Uniper.
    [Show full text]