OREANDA-NEWS. Now innovative companies have an opportunity to raise money through debt instruments on the Innovation and Investment Market (the IIM) of the Moscow Exchange. RUSNANO was the first issuer whose bonds were admitted to trading.

All RUSNANO bond series are still remained on the Moscow Exchange"s quotation list B and the Bank of Russia"s lombard list. All bonds issued so far by RUSNANO with series 01-05 and a total par value of RUB53 billion have been included in the IIM.

Companies of the IIM have gained this new fundraising opportunity due to amendments to the Listing rules. Before high-tech firms were allowed to offer only stocks and venture funds shares (closed-end mutual funds). Bond issuers must meet strict criteria to join the IIM: innovative economic sector profile, issue value of at least RUB1 billion, and available credit rating. In addition, issuers must submit the investment memorandum containing all key required information for investors.

"We work to widen opportunities of the IIM for issuers. The admission of bonds to the IIM will allow innovative companies to attract additional debt capital. High tech startup businesses will be able to build their Russian public market histories entirely through our trading venue, from debt programs to an IPO", said Gennagy Margolit, Executive Director of the Innovation and Investment Market.

Oleg Kiselev, Deputy CEO at RUSNANO, said: "The IIM is an effective market to raise funds for both RUSNANO and our portfolio companies. We expect that the positioning and additional benefits provided by the IIM to the issuers will help to substantially improve liquidity of the financial instruments".