By Andrei Skvarsky.
NASDAQ and Moscow Exchange have clinched a deal to join forces in helping Russian high-tech start-ups to get listed on the two bourses.
The two exchanges are to co-organise conferences, workshops and presentations for innovative companies and international investors under the agreement, the Moscow bourse said in a statement.
The deal is apparently a serious image booster for Moscow Exchange, which has been building up its business after a highly successful IPO last winter.
“There are a lot of interesting technology companies emerging from Russia, in combination with a strong interest from global issuers and investors to become more involved with this community,” said Bruce Aust, head of global listings at NASDAQ.
“We have supported some of the new, leading and fast growing Russian technology companies in raising capital, like CTC Media, QIWI and Yandex, who we are proud to have listed with us. We truly look forward to being a part of the new Russian technology companies” development and support them with the best possible foundation to raise capital in Russia and globally,” he said.
Moscow Exchange chief executive Alexander Afanasiev, said there is “growing interest to invest into technology stocks from the Russian investment community”.
In 2009 Moscow Exchange and Rusnano, a Russian state-owned nanotechnology company, created a listing platform for new and promising non-commodity companies called the Innovations and Investment Market of Moscow Exchange.
Rusnano, was set up in 2007, has the mission of co-investing in nanotechnology projects.