How exchanges work 2 Martha. Redemption of shares for a trillion rubles by the Ministry of Finance

Как работают биржи 2 марта. Выкуп акций на триллион рублей Минфином

Shares can still be traded only on SPb-Exchange. And the Ministry of Finance reported, that will send a trillion rubles to buy back Russian shares in 2022.

How exchanges work

"SPb-Exchange". 2 In March, the main trading in foreign securities will begin no earlier than 17:00 in Moscow. In agreement with the Bank of Russia, the start of trading may be postponed.

1 March exchange postponed the opening from 17:00 on 19:00 due to "temporary slowdown in the performance of the reporting system". Also, the exchange did not allow Russian issuers to trade with listing on foreign sites. These are securities from the London Stock Exchange, and also Yandex, VEON, Mobile TeleSystems, Ozone, Cian, HeadHunter and Nexters.

"Due to the extreme volatility of Russian shares and the decision of the Bank of Russia not to open a section of the stock market on the Moscow Exchange", — explained "SPb-Birzha".

Moscow Exchange. 2 In March, the Bank of Russia decided not to open trading on the stock and derivatives markets. Trading regime in the following days will be announced 3 March until 09:00 in Moscow.

Trillion per share

In 2022, the Ministry of Finance of Russia will send up to a trillion rubles for the purchase of Russian shares. Money will be taken from the National Welfare Fund. According to data on 1 February, NWF assets in rubles amounted to 13.6 trillion.

"It is critically important for a number of companies to improve the value of shares through open market buybacks., not an additional issue. The collateral value of many companies has fallen to incredibly low levels, therefore, it is impossible to rectify the situation through an additional issue”, — Forbes quotes economist Yevgeny Nadorshin.

Companies use their own shares as collateral for loans and to pay for transactions. Taking into account the current prices for Russian shares, issuing additional securities is not the most effective way to improve the balance sheet.

"The same measures - the repurchase of shares - were taken during the crisis of 2008-2009 and helped to stop the fall", — the expert added.

BCS calculated: a trillion rubles is the value 7,5% shares of the Mosbirzhi index, which are in free circulation. According to the company, money from the NWF will significantly support stock market.

Broker expects, that the Ministry of Finance will buy liquid shares of large companies: "Gazprom", Sberbank, Rosneft, Lukoil, Norilsk Nickel, VTB and others. As in 2008-2009.

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