Press releases | Archive 2004
RBC Board approves the launch of depository receiptsRBC Board approves the launch of depository receipts
On December 24, 2004, the Board decided to establish a depository receipts programme. The company is not planning to issue additional stock for this purpose. In the opinion of the company, depository receipts represent a conservative and effective instrument of accessing the international capital markets. The main goal of the issuance is to enable international retail and institutional investors to participate in the share capital of RBC. The company expects the depository receipts programme to increase the liquidity of its ordinary shares and enhance visibility, as well as create stronger name recognition and understanding of RBC, its products, services and financial instruments in the international marketplace.
Based on the results of the depository receipts issuance and subsequent performance, the Board of Directors will consider the possibility of listing the company's stock on European exchanges.
The share capital of RBC consists of 115 million ordinary shares with a par value of 0.001 rubles each. Approximately 64% of them are held by the founders and top managers of the company, with a free float being approximately at a level of 36%.
RBC is a leading Russian media and IT group. The media business of the company is comprised of the RosBusinessConsulting information agency, a financial and economic news portal at www.rbc.ru, the analytical electronic newspaper RBC Daily and a number of other specialized Internet resources. At the end of 2003, RBC created Russia's first and only business television RBC TV in a technical cooperation arrangement with CNN and CNBC. At present, RBC TV is available to viewers in 13 Russian cities with a population of over 1 million people, it also broadcasts in more than 20 urban centers of Russia as well as in Kazakhstan, Ukraine, Belarus and the Baltic States.
RBC has the largest business audience among Russian business media: the monthly number of unique users of the company's business sites has reached about 3,500,000, and the core audience of RBC TV has amounted to 3,094,000 people by the end of 2004.
The IT business of the company consists of IT development, conducted through the RBC Soft division, which provides turnkey solutions created in-house and developed by leading global IT companies, carries out system integration and develops software for a variety of local and international clients through general and offshore programming. In 2004, the total number of RBC's IT clients exceeded 250 large and medium-size companies.
RBC conducted the first Russian successful IPO in 2002 and remains the only listed media and IT company on the Russian stock market.