13.12.2024, 16:48
Putin signed the law for the IPO "Dom.RF"
Source: OREANDA-NEWS
OREANDA-NEWS Russian President Vladimir Putin signed a law on creating conditions for the initial public offering (IPO) of JSC Dom.The Russian Federation", which allows reducing the mandatory share of the state in the state corporation to 50% plus one share, the corresponding document is posted on the official publication of legal acts website.
The document will allow to attract extra-budgetary financing for the further development of the company, increase its value, and also increase the capitalization of the stock market, the Ministry of Finance of the Russian Federation explained earlier. The law allows for a reduction in the legally established share of the state in JSC Dom.RF" from 100% to 50% plus one share. Thus, despite the reduction of the state debt, the Russian Federation will have a controlling stake.
At the end of November, Deputy Minister of Finance of the Russian Federation Alexey Moiseev, when considering the draft law in the first reading, allowed at the first stage the possibility of selling from 1% to 5% of the capital of JSC Dom.The Russian Federation" depending on market demand. The sale of a controlling stake in the state is expressly prohibited by law, and as for the blocking package, the Russian government currently has no such plans, Moiseev explained.
In addition, in order to continue the activities of the corporation as a single institution of development in the housing sector, its key functions are legally fixed. These include: the issue of infrastructure bonds, the functions of the agent of the Russian Federation for the involvement in the turnover of land plots, as well as the operator of state support measures.
The State Duma, in the framework of the second reading, supported the amendments obliging the "House.Starting from January 1, 2026, comply with the liquidity ratio, the minimum allowable value of which will be set by the government of the Russian Federation.
And from July 1, 2025, the establishment for the "House" is transferred to the Cabinet level.The Russian Federation" minimum acceptable values of the capital adequacy ratio and the financial leverage ratio, as well as the maximum risk ratio per borrower or a group of related borrowers. Currently, these values are set in the law on promoting the development and improvement of management efficiency in the housing sector and amount to 0.115, 0.025 and 0.25, respectively.
The document will allow to attract extra-budgetary financing for the further development of the company, increase its value, and also increase the capitalization of the stock market, the Ministry of Finance of the Russian Federation explained earlier. The law allows for a reduction in the legally established share of the state in JSC Dom.RF" from 100% to 50% plus one share. Thus, despite the reduction of the state debt, the Russian Federation will have a controlling stake.
At the end of November, Deputy Minister of Finance of the Russian Federation Alexey Moiseev, when considering the draft law in the first reading, allowed at the first stage the possibility of selling from 1% to 5% of the capital of JSC Dom.The Russian Federation" depending on market demand. The sale of a controlling stake in the state is expressly prohibited by law, and as for the blocking package, the Russian government currently has no such plans, Moiseev explained.
In addition, in order to continue the activities of the corporation as a single institution of development in the housing sector, its key functions are legally fixed. These include: the issue of infrastructure bonds, the functions of the agent of the Russian Federation for the involvement in the turnover of land plots, as well as the operator of state support measures.
The State Duma, in the framework of the second reading, supported the amendments obliging the "House.Starting from January 1, 2026, comply with the liquidity ratio, the minimum allowable value of which will be set by the government of the Russian Federation.
And from July 1, 2025, the establishment for the "House" is transferred to the Cabinet level.The Russian Federation" minimum acceptable values of the capital adequacy ratio and the financial leverage ratio, as well as the maximum risk ratio per borrower or a group of related borrowers. Currently, these values are set in the law on promoting the development and improvement of management efficiency in the housing sector and amount to 0.115, 0.025 and 0.25, respectively.
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