The President signed a resolution “On additional measures to reduce state participation in the economy”.
The document approved a list of 40 enterprises, whose blocks of shares are sold through public auctions in the order of the people’s IPO on the principle of “One share – one lot”.
According to the decree, professional organizations can be involved in the organization of bidding processes based on the selection of the best proposals. For domestic investors, it is possible to identify them, conclude agreements with investment intermediaries and open a depo account through the E-auksion electronic trading platform, including its mobile application, in real time.
“On the E-auksion electronic trading platform, equal conditions are created for participation of all investment intermediaries and their clients in the acquisition of shares. An electronic application for the acquisition of shares can be submitted by the investor himself or through an investment intermediary acting on behalf of investors,” the document reads.
Based on the results of online auctions, sale and purchase agreements are registered outside the trading floors of the organizers of securities trading, information on the registration result is sent to the investor’s personal account. It was instructed to approve the procedure for selling the shares of enterprises on the basis of a “people’s IPO” within a month.
* - the state share of the company that occupies a dominant position is sold;
** - after reorganization into a joint-stock company, the shares are placed for sale.
