NEW YORK, April 24, 2006 – “We are honored to welcome Alexey Kudrin, the Russian Finance Minister, on his official visit to the New York Stock Exchange,” said NYSE Group, Inc. President & co-COO Catherine R. Kinney. “The NYSE is proud of our partnership with Russia and our growing list of Russian listed companies. We look forward to expanding our relationship with Russia.”
Minister Kudrin was visiting the U.S. to attend the 2006 IMF/World Bank SpringMeetings in Washington, D.C., and recently expressed his endorsement of Russiancompanies listing overseas to complement their home market listing.
“The Russian economy is growing at a rate of 6.5% and generates strong interest from U.S. investors,” said Alexey Kudrin, Russian Finance Minister. “I hope that our growing economy and new investor tools such as the RUXX index, which tracks Russian companies traded in overseas markets, will attract more attention to the Russian economy from U.S. financial community.”
The six companies which the NYSE currently lists from Russia are:A.O. Tatneft (NYSE: TNT); Mechel Steel Group AOA (NYSE:MTL); Mobile TeleSystems (NYSE: MBT); Rostelecom (NYSE:ROS); Vimpel-Communications (NYSE: VIP) and Wimm-Bill-Dann Foods OSJC (NYSE:WBD). The NYSE is in discussion with several leading Russian companies about listing on the NYSE once they meet U.S. registration and listing requirements. Gazprom, Russia’s leading energy company, has announced its intention to list on the NYSE once it meets the requirements.
The Russian Industrial Leaders Index (RUXX) has been calculated in U.S. dollars since January 1, 2006, and has been available for all global trading systems since February 1 this year. It had an initial base of 500 points and rose by 30% in the first quarter. In comparison, growth on MICEX was 22.9%, on the RTS 24.8% and Nasdaq 5.2% in this period.
RUXX is a composite economic index of Russian companies with financial instruments (shares and depository receipts) placed on major world trading floors, including the New York Stock Exchange, the London Stock Exchange, Nasdaq and AMEX.
he index includes 17 Russian companies listed abroad: Tatneft (NYSE, LSE), MTS (NYSE), Rostelecom (NYSE, LSE), VimpelCom (NYSE), Wimm-Bill-Dann (NYSE), Mechel (NYSE), Gazprom (LSE), LUKoil (LSE), Novatek (LSE), AFK Sistema (LSE), Golden Telecom (Nasdaq), Rambler Media Group (LSE), Norilsk Nickel (LSE, Nasdaq), Mosenergo (LSE, NYSE), Novolipetsk Steel (LSE), Unified Energy System (LSE, NYSE), and Surgutneftegas (LSE).
The RUXX Index was launched by Press Release Group, a New York-based communications company, and RIA Novosti. It is calculated and disseminated by Dow Jones & Company.