IT firms can hold IPO in Moscow Exchange innovations sector in Apr

MOSCOW, Feb 1 (PRIME) -- Companies of the IT industry can hold initial public offerings (IPOs) already in April in the innovations and investments sector of the Moscow Exchange, Gennady Margolit, executive director for the innovations and investments market at the bourse, said on Thursday.

“We work with high-technology companies…It is the innovations and investment market, and it is probably more prepared if we mean the IPOs, shares. A whole range of prerequisites is present, including the fact that the government is working on expansion of tax allowances. There is a joint working group for preparation of companies to enter the bourse,” Margolit said.

It is important to have one or two technological deals with IT companies, because others are waiting and will closely watch the first offerings.

“We have a joint project with the Economic Development Ministry where we’ll chose 10–15 companies, probably, in March–April, which are at a serious stage of readiness and it will be a significant pipeline (a list of deals in work),” he said.

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