By Olga Popova and Zlata Garasyuta
MOSCOW Feb 1 The Moscow Exchange, Russia's main
venue for trading in stocks, bonds, forex and derivatives, has
set a price range of between 55 and 63 roubles per share for its
stock market flotation, two sources close to the deal said.
Sources had said last week that shareholders in the Exchange
are expected to sell stock worth at least $500 million. The
exchange was valued at between $4.2 billion and $6.5 billion by
the banks organising the initial public offering (IPO).
Both sources said on Friday an investor roadshow for the
deal, to be carried out on the exchange's own share trading
platform, would begin on Feb. 4.
The Exchange declined to comment.
The IPO comes after President Vladimir Putin last week
called for future state asset sales to be held in Russia, in a
move aimed at helping turn Moscow into a global financial centre
rivalling New York, London and Hong Kong.
The Moscow Exchange was formed in 2011 through the merger of
Moscow's two largest stock exchanges, MICEX and RTS, with a view
to a float this year.
The Exchange's largest shareholder is Russia's central
bank, which will retain its 24.3 percent stake. Other
shareholders are banks and brokers such as Sberbank,
Unicredit, VTB, Gazprombank, U.S. private
equity fund Cartesian Capital and Russian state-backed private
equity fund the RDIF.
VTB, Russia's second-biggest lender, is expected to be the
next major company to sell its shares on the Moscow Exchange,
following Putin's proposal.
($1 = 30.0152 Russian roubles)
(Reporting by Olga Popova and Zlata Garasyuta; Writing by Katya
Golubkova; Editing by Douglas Busvine and David Holmes)