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Moscow stock exchange to float

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Moscow stock exchange to float

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Turning Moscow into a global financial centre is the reasoning behind plans by the Moscow Exchange to float, a move which could raise around 380 million euros.

The exchange is Moscow’s main venue for trading in stocks, bonds, foreign exchange and derivatives. Some of Russia’s biggest firms, like Gazprom, and oil firm Lukoil, are listed on the exchange.

The proposed float was announced in a statement and shares will be offered for sale to foreign investors as well as Russian citizens.

Details of the offering were scant and gave no information on its size.