MOEX: New Listing Rules Will Take Effect on 2 June
OREANDA-NEWS. Revised listing rules are to come into force on 2 June, reducing the number of securities lists on Moscow Exchange from six to three and containing provisions from the updated corporate governance code. The new rules raise corporate governance requirements for issuers and set new criteria for inclusion on the three quotation lists.
The list of securities admitted to trading will comprise three levels and be revised on the date when the new rules come into force:
The existing A1 and A2 lists will be combined to form the highest list, Level 1.
Level 2 will include securities from the current B, V, and I lists.
Level 3 will include all remaining names.
Securities will be included on the Level 3 list if the issuer or asset management company does not wish for it to be included on the Level 1 or Level 2 lists when the rules become effective. See the recommended application formats.
The list will be created on the day when the rules comes into effect without verifying compliance with requirements set by regulatory acts and the new listing rules.
The new Listing rules will take effect excluding their provisions stipulating the requirements, conditions, and admission procedures for securities for which the relevant prospectuses have not been registered (a securities issue prospectus or privatisation plan registered as a securities issue prospectus).