RBC stocks rocket

On May 7, 2002, the secondary circulation of the RBC Information Systems common stocks started on MICEX and the RTS. This company was the first in Russia to conduct an initial public offering (IPO) on April 18, 2002. On this day, 16 million stocks with a nominal value of RUR25.68 (about $0.8337) were placed on the two exchanges. On May 7, the RTS registered three deals with RBC stocks, their total volume being 170,000 stocks $0.95 each, which was 14 percent more than the IPO price. At the closing, the stock price was $0.91.

On MICEX 15 deals amounting to 6,256 stocks were made at a price from RUR29.99 (about $0.9595) up to RUR33 (about $1.0558). The average weighted price was RUR30.4 (about $0.9726) exceeding the IPO price by 18 percent.