Kremlin Fund Said to Seek $100 Million of Moscow Exchange
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The Russian Direct Investment Fund will seek to buy as much as $100 million of stock in the Moscow Exchange’s initial public offering, according to a person with knowledge of the Kremlin-backed private-equity fund’s plan, who asked not to be identified because the information isn’t public.
Russia’s main equity and fixed-income bourse is accepting bids through Feb. 14 and will start trading Feb. 15 in the capital after an IPO expected to raise at least 15 billion rubles ($500 million), according to a statement on Feb. 4. The exchange’s shares, marketed in Europe and in the U.S. as well as at home, will trade only in Russia.