Press releases | Archive 2004
RBC among Russia’s most transparent companiesRBC among Russia’s most transparent companies
RBC Information Systems’ total disclosure was put at 59 percent. Disclosure on ownership structure and investor relation was assessed at 64 percent, on financial and operational information - also at 64 percent, and disclosure on board and management structure and process – at 46 percent.
A comparison of listed companies included in the 2003 and 2004 studies, shows a meaningful increase in the overall level of disclosure. Thirty six companies have improved their results, with an average improvement of 10 percentage points. While most of the listed companies leapt from relatively low standards, seven companies (including RBC Information Systems), which scored higher than the intermediate level in 2003, further improved in 2004.
The study includes Russia’s 60 leading public companies whose shares are listed on the Moscow Interbank Currency Exchange (first- and second-tier lists) and on other stock exchanges. The survey also includes 10 companies with illiquid or closely held stocks, which have their ruble-denominated bonds first-tier listed on the MICEX.
In April 2002, OAO RBC Information Systems held the initial public offering (IPO) on Russian stock exchanges (MICEX, RTS), raising $13.28m. In June 2004, the company conducted an SPO among limited number of investors in Russia, Europe and the United States. RBC Information Systems’ free float is currently 36.1 percent of its capital.