OREANDA-NEWS. The Index Committee of CJSC "MICEX Stock Exchange" has advised the Exchange to change the free float calculation methodology by including stocks represented by depositary receipts traded abroad into free-float.

Existing free-float methodology treats depositary receipts as floating securities provided that the following conditions are met:

no restrictions are applied on shares acquisition upon exercising rights under the depositary receipts;

number of shares represented by depositary receipts does not surpass substantially the domestic free float (at most by 1.5 times).

The Index Committee proposes that depositary receipts are always included in free float giving reasons that this makes the indices calculation more transparent, corresponds to international practice and allows presenting the most detailed structure of Russia's market from the global investment perspective.

It is expected that the new method will be employed beginning the June indices review (from June 17, 2013).

The table below demonstrates how the change in the free float calculation method will impact the Moscow Exchange Indices" constituents (the MICEX Index and RTS Index).

No

Ticker

Name

Current
free float

New
free float

Weight in the index
with current free float

Weight in the index
with new free float

1

GAZP

Gazprom, ordinary shares

46%

46%

15.00%

15.00%

2

SBER

Sberbank, ordinary shares

48%

48%

14.04%

14.04%

3

SBERP

Sberbank, preferred shares

100%

100%

0.96%

0.96%

4

LKOH

LUKOIL, ordinary shares

57%

57%

14.43%

14.43%

5

SNGS

Surgutneftegas, ordinary shares

25%

25%

3.91%

3.91%

6

SNGSP

Surgutneftegas, preferred shares

73%

73%

1.94%

1.94%

7

ROSN

Rosneft, ordinary shares

12%

12%

4.72%

4.72%

8

URKA

Uralkali, ordinary shares

45%

45%

4.72%

4.67%

9

MTSS

MTS, ordinary shares

12%

49%

1.35%

4.11%

10

NVTK

NOVATEK, ordinary shares

18%

27%

3.67%

4.11%

11

MGNT

Magnit, ordinary shares

24%

48%

2.64%

3.95%

12

GMKN

OJSC "MMC "NORILSK NICKEL", ordinary shares

24%

24%

4.72%

3.82%

13

RTKM

Rostelecom, ordinary shares

43%

43%

3.16%

2.36%

14

RTKMP

Rostelecom, preferred shares

100%

100%

0.45%

0.34%

15

TATN

Tatneft, ordinary shares

32%

32%

2.92%

2.18%

16

TATNP

Tatneft, preferred shares

100%

100%

0.33%

0.24%

17

VTBR

VTB Bank, ordinary shares

25%

25%

3.01%

2.25%

18

TRNFP

Transneft, preferred shares

100%

100%

2.20%

1.64%

19

BANE

Bashneft, ordinary shares

12%

12%

0.87%

0.72%

20

BANEP

BAshneft, preferred shares

100%

100%

0.98%

0.82%

21

AFKS

AFK SISTEMAЃ@, ordinary shares

12%

36%

0.62%

1.40%

22

MFON

Megafon, ordinary shares

2%

15%

Ѓ@

1.22%

23

HYDR

RusHydro, ordinary shares

34%

34%

1.53%

1.14%

24

CHMF

Severstal, ordinary shares

21%

21%

1.24%

0.93%

25

FEES

FGC UES, ordinary shares

21%

21%

1.04%

0.78%

26

NLMK

NLMK, ordinary shares

14%

14%

1.02%

0.76%

27

IRAO

INTER RAO UES, ordinary shares

18%

18%

0.82%

0.62%

28

MTLR

Mechel, ordinary shares

18%

35%

0.27%

0.39%

29

MTLRP

Mechel, preferred shares

90%

90%

0.27%

0.20%

30

EONR

E.ON Rossiya, ordinary shares

18%

18%

0.65%

0.49%

31

PHST

Pharmstandard, ordinary shares

18%

41%

0.28%

0.48%

32

MOEX

Moscow Exchange, ordinary shares

25%

25%

0.61%

0.45%

33

MRKH

IDGC Holding, ordinary shares

30%

30%

0.56%

0.42%

34

RUALR

United Company RUSAL Plc, RDRs on shares

8%

8%

0.56%

0.42%

35

PHOR

FosAgro, ordinary shares

10%

17%

0.32%

0.40%

36

TRMK

TMK, ordinary shares

5%

28%

Ѓ@

0.39%

37

LSRG

LSR GroupЃ@, ordinary shares

15%

33%

0.21%

0.35%

38

ALRS

ALROSA, ordinary shares

9%

9%

0.45%

0.33%

39

NMTP

NCSP, ordinary shares

30%

30%

0.41%

0.31%

40

AFLT

Aeroflot, ordinary shares

32%

32%

0.39%

0.29%

41

DIXY

DIXY GroupЃ@, ordinary shares

33%

33%

0.38%

0.28%

42

VSMO

VSMPO-AVISMA CorporationЃ@, ordinary shares

29%

29%

0.37%

0.28%

43

MAGN

MMK, ordinary shares

5%

14%

0.11%

0.24%

44

MSRS

MOESK, ordinary shares

18%

18%

0.30%

0.22%

45

MSTT

MOSTOTREST, ordinary shares

30%

30%

0.28%

0.21%

46

PIKK

PIK Group, ordinary shares

31%

39%

0.20%

0.19%

47

MVID

Company "M.video, ordinary shares

26%

26%

0.25%

0.19%

48

SVAV

SollersЃ@, ordinary shares

34%

34%

0.19%

0.14%

49

MSNG

Mosenergo, ordinary shares

15%

15%

0.17%

0.13%

50

RASP

Raspadskaya, ordinary shares

18%

18%

0.17%

0.12%