Press releases | Archive 2005
RBC ranks among top-15 most liquid Russian companies
Moscow, September 5, 2005 - A reputable economic weekly, Kommersant-Dengi, has posted its eighth list of Russia's largest companies. OAO RBC Information Systems (RTS, MICEX: RBCI) ranked 14th among the most liquid issuers by trading volume on Russian stock exchanges. The total turnover of RBC securities in the period from July 1, 2004, to June 30, 2005, was $315m, up 384.8%.
Notably, RBC has shown such positive results while the overall turnover on Russian stock exchanges did not increase, bun even shrank to $105bn in the reported period. Kommersant believes that lower trading volumes testify to the deterioration of the market liquidity primarily due to a free-float reduction. According to the RTS exchange, the average free float of companies included on the RTS index is 25%, and for the majority of them it is not more than 10-20%, while RBC's free float currently stands at about 40%.
In terms of market capitalization, RBC took the 68th spot having climbed from last year's No. 88. As of August 31, 2005, the market value of RBC shares was registered at $600.07m. In June 2005, the company got onto the list of 100 largest East European companies compiled by the Financial Times.