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JSC SITRONICS (‘SITRONICS’ or ‘the Company’) (LSE: SITR), the leading provider of telecommunications, IT and microelectronics solutions in Russia and the CIS, today announces the admission of the Company’s share to trading on Moscow Interbank Currency Exchange (MICEX).
Trading will be held in Innovation and Investment Market (IIM) sector under the MICEX rules which permit an unlimited number of investors. The Russian Funds Investment Group is serving as the listing agent to help SITRONICS enter the stock exchange and support admission of SITRONICS’s ordinary shares to trading.
According to Gennady Margolit, Vice President of MICEX, the admission of such a renowned issuer as SITRONICS to the IMM sector confirms the growing interest among investors and the market as a whole towards innovative companies.
Irina Lanina, Vice President of SITRONICS, noted that the Company’s share admission to MICEX IMM is a key step to the development of this high technology sector.
“We believe that the existence of the separate sector contributes significantly to the creation of a transparent mechanism for attracting investments to the high technology sector in the Russian economy. The fact is that the sector is actively growing, and SITRONICS, as a major Russian public high technology company, is happy to join this initiative and contribute to growth in innovation,”
said Irina Lanina.
Sergey Vasilyev, Chairman of the Board of Directors of the Russian Funds Group, commented on the rapid growth of MICEX IMM sector. “The admission of a major company such as SITRONICS to Innovation and Investment Market is both a testament to the high potential of this trading platform and to the market’s bright prospects for innovative Russian companies as a whole”, he noted. ”
What we have in mind is to stimulate of this process of growth in the market for innovation and in the high technology sector in every way possible.”