Innovative companies admitted to the debt market

Now innovative companies have an opportunity to raise money through debt instruments on the Innovation and Investment Market (the IIM) of the Moscow Exchange. RUSNANO was the first issuer whose bonds were admitted to trading.

All RUSNANO bond series are still remained on the Moscow Exchange"s quotation list B and the Bank of Russia"s lombard list. All bonds issued so far by RUSNANO with series 01-05 and a total par value of RUB53 billion have been included in the IIM.

Companies of the IIM have gained this new fundraising opportunity due to amendments to the Listing rules. Before high-tech firms were allowed to offer only stocks and venture funds shares (closed-end mutual funds). Bond issuers must meet strict criteria to join the IIM: innovative economic sector profile, issue value of at least RUB1 billion, and available credit rating. In addition, issuers must submit the investment memorandum containing all key required information for investors.     

"We work to widen opportunities of the IIM for issuers. The admission of bonds to the IIM will allow innovative companies to attract additional debt capital. High tech startup businesses will be able to build their Russian public market histories entirely through our trading venue, from debt programs to an IPO", said Gennagy Margolit, Executive Director of the Innovation and Investment Market.

Oleg Kiselev, Deputy CEO at RUSNANO, said: "The IIM is an effective market to raise funds for both RUSNANO and our portfolio companies. We expect that the positioning and additional benefits provided by the IIM to the issuers will help to substantially improve liquidity of the financial instruments".      

Reference information:

RUSNANO was founded in March 2011 as an open joint stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO"s mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is CEO and chairman of the Executive Board of RUSNANO.

Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies.

RUSNANO"s current international long-term credit rating issued by Standard & Poor"s is "BB+". Foe further information, please visit www.rusnano.com.

The Innovation and Investment Market (IIM) is a sector for high technology small and mid-cap companies, created by the Moscow Exchange together with RUSNANO.

33 companies including 8 venture funds have been admitted to the IIM by now. The total capitalization the companies is RUB34.3 billion. There are three major segment within this market that are intended for companies with different levels of maturity and capitalization as well as for different groups of investors. The IIM is the market that allows innovative companies to conduct an IPO/SPO and get their securities admitted to trading on the secondary market of the Moscow Exchange.

For further information, please contact the Public Relations Department at (495) 363-3232.