MICEX, a leading Russian stock exchange, launched trading on Thursday in its new hi-tech segment.
During the first day of its operations, the MICEX market of innovations and investment offered 15 million ordinary shares of the Institute of Human Stem Cells to investors.
"The IPO was successful. Over 300 investors, most of whom are private individuals, showed demand for the shares that exceeded supply," the MICEX press office said.
Anatoly Chubais, ex-CEO of Russia's former electricity monopoly RAO UES and now head of the Rosnano hi-tech government corporation, which stood behind the creation of the hi-tech trading ground in Russia similar to U.S. Nasdaq, welcomed the undertaking.
"This is the first share placement by an innovation company on the stock exchange. The shares were placed successfully, in full and were oversubscribed," Chubais said at the launch ceremony.
The MICEX's new segment is intended to contribute to investment in small and medium innovation business in Russia.
MOSCOW, December 10 (RIA Novosti)
