Cherkizovo Group one of Russia’s leading integrated and diversified meat producers, has transferred its shares onto quotation list ‘A 1’ at Moscow Interbank Currency Exchange (MICEX).
The Executive Board of MICEX has authorised the transfer of Cherkizovo shares from quotation list ‘A 2’ to quotation list ‘A 1’. This reflects Cherkizovo’s full compliance with the financial and corporate governance requirements necessary for an ‘A 1’ listing on MICEX.
The transfer to list ‘A 1’ is likely to improve liquidity in Cherkizovo shares over time, by expanding the potential investor base to include Russian non-government pension funds, management companies accredited by the Russian State Pension Fund, insurance companies and others. MICEX will start trading Cherkizovo shares on quotation list ‘A 1’ from March 2, 2012.
Sergey Mikhailov, CEO of Cherkizovo Group, said: “The admission of Cherkizovo’s shares to MICEX Quotation List A 1 is likely to improve liquidity by expanding the potential investor base in the Company. Cherkizovo’s inclusion in the top listing category of MICEX reflects the Group’s continued focus on best practice standards of corporate governance.”
Cherkizovo’s shares are also listed on the London Stock Exchange (LSE) through GDR’s.