Preferred shares of Sberbank excluded from rating MSCI – Lenta.ru

MSCI Index Agency excluded preferred shares of Sberbank of the Russian market stock index MSCI Russia, said the agency “Prime”. The market capitalization of the securities which are in free circulation is no longer complies with the new requirements of the agency. On capitalization of Sberbank including sanctions influenced the EU and the United States.

Savings Bank, a majority-owned by the state in the face of the Bank of Russia, is included in the sanctions list. This means that investors from countries that joined the anti-Russian sanctions, prohibited from acquiring their new shares. On the possibility of exclusion of “preferred shares” Savings Bank of the MSCI warned in the summer of 2014.

The minimum value of the market capitalization for the Russian market was higher than expected and agency index was 3 trillion 081 billion dollars. As a result, the minimum value of the market value of free float amounted to 1 billion 32 million dollars. The market capitalization of Sberbank, the privilege of having the payment of dividends, amounted to only 932 million dollars.

07:55 August 1, 2014

Price confrontation

The new package of sanctions against Russia is more like a declaration of economic war,

MSCI also reduce the rate of the share of the free float to other Russian companies, in particular – the Moscow Stock Exchange (from 60 to 50 percent) and the “BRIC “(45 to 35 percent). This change is due to the revaluation of the share of the free float of these issuers. According to the agency, it is fraught with outflow of passive and active funds.

The index MSCI Russia indices included in the group of emerging markets MSCI Emerging Markets. Currently, the base of calculation of the index included 22 papers of 20 Russian companies. The greatest weight as of May 12, have shares of “Gazprom” (20.76 per cent), “Lukoil” (15.50 per cent) and Sberbank ordinary shares (9.19 per cent). Have a minimum weight of global depositary receipts (GDR) «System” (0.77 percent), ordinary shares of “Rostelecom” (0.73 percent) and preferred shares of Sberbank (0.57 percent).