The Moscow Exchange staged a disappointing flotation on its own share trading platform on Friday that valued Russia's main bourse at $4.2 billion well below its own valuation estimates.
Brokers work at Russia's Micex-RTS stock exchange in Moscow. The Moscow Exchange was set for a relatively disappointing flotation Friday after Russia's main trading platform was valued at $4.2 billion, well below its own valuation estimates.
The valuation was a blow President Vladimir Putin's efforts to transform Moscow into a global financial centre and underscores analyst mistrust of a bourse now mired by low volumes and regular trading in just a few big stocks.
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