The Russian IBS Group has been tradable in the General Standard on the Frankfurt Stock Exchange since 9 November. The IT company was previously listed in the Open Market.
“Our variety of markets and standards offer customized paths to the capital market,” said Barbara Georg, Head of Listing & Issuer Services at Deutsche Brse. “Companies in the General Standard meet the requirements of the harmonized capital market in Europe, and receive targeted attention in their peer group environment. They have access to international investors and benefit from very high liquidity.”
According to information provided by the company, IBS Group is a leading provider of IT, programming and consulting services to major Russian and multinational companies.
“The listing on the Regulated Market of the Frankfurt Stock Exchange is an important step for IBS Group, but it also paves the way for other Russian companies in Germany,” said Anatoly Karachinsky, President and CEO of IBS Group. “With today’s listing we underline our commitment to high standards of investor relations best practice and improve the accessibility and attractiveness of our GDRs to investors.”
The opening trading price in the Regulated Market stood at €16.00. Deutsche Brse has established close contacts with Russia and CIS; it has maintained a representative office in Moscow since 2007. An in-house team of native Russian speakers organizes IPO seminars and supports companies that want to get listed on the Frankfurt Stock Exchange. “An IPO on the Frankfurt Stock Exchange is of particular interest to foreign companies because their shares or GDRs are listed in euro and the listing process is easy, cost efficient and fast,” said Barbara Georg.
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