SNAPSHOTS
First Official Visit to Canada
Russian business stocks tied up
Fri, Nov 12, 2004UPI
MOSCOW -- The percentage of stock in Russia's biggest corporations is almost all tied up and does not circulate freely, Interfax news agency said Friday.
The percentage of stock in Russia's 20 biggest companies in free float circulation is only 27 percent of their aggregate charter capital, deputy chief of the Federal Financial Markets Service Bembya Khulkhachiyev said at the sixth all-Russian conference of professional securities market traders in Moscow, Interfax said.
The same percentage for the 30 largest companies in the United States is 90 percent, and for France's 40 largest it is 80 percent. This indicates the volume of stock in free circulation in Russia is very low, Khulkhachiyev said. It is only 10 percent in Russia's key electric power sector, he noted
Copyright 2004 by United Press International
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Keywords: russian, business, stocks, tied
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