Admission of foreign securities to trading by decision of the Regulator
Foreign securities may be admitted to public trading in Russia by the decision of Bank of Russia if the foreign securities:
- Do not have a "recognized" listing, or
- Are admitted to public placement, then
A decision on admission to public placement and/or circulation in Russia is taken by the Bank of Russia within 30 days of the date of receipt of all documentation.
This decision may be taken if
- Security has no restrictions imposed to its circulation and can be offered to the general public in Russia
- The securities liquidity indicators are at least, and the investment risk no higher than, those of comparable issues already trading on the exchange
- The documentation that includes a duly executed securities prospectus and an application prepared by the Russian exchange which contains the rationale for admission of these securities to trading in Russia is submitted
The exchange takes a decision on admission of foreign securities to trading based on an application submitted by the issuer with documents/information attached including the duly executed prospectus for securities registered by the Bank of Russia.