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EXCHANGE WELCOMES FIRST MAJOR INTERNATIONAL COMPANY OF 2007

London, Eng. 2/14/2007 01:15 AM GMT (WooEB)

The London Stock Exchange today welcomed Sitronics, a leading technology group operating across 25 countries in Russia, the CIS, Central and Eastern Europe and the Middle East and Africa to its Main Market. Sitronics is the first major international company to list on London’s markets this year and takes the number of Russian companies listed on the London Stock Exchange to 21. 

The company will be eligible for inclusion in the new FTSE Russia IOB index, introduced in November to track the performance of the ten largest Russian companies traded on the London Stock Exchange’s order book and to form the basis for index and single stock derivatives offered by EDX London, the Exchange’s derivatives division.

Tracey Pierce, Head of International Business Development at the London Stock Exchange, said:

“In the last two years we have hosted a Russia-UK Technology Summit to bring companies and investors together to focus on some of the initiatives now underway in Russia to foster the growth of the high-tech sector. The range of companies that have attended, at different stages in their development, and operating in a huge variety of markets, has been striking. 

“Sitronics’ IPO today is another example of the vibrancy of the technology sector in Russia. We are delighted to welcome them to our markets, and wish them every success in their life as a public company.” 

Sitronics has raised $350 million on its Initial Public Offering in London and Moscow. The offering includes 1.7 billion ordinary shares, of which 1.6 billion will be placed in the form of GDRs, with each GDR representing an interest in 50 ordinary shares. The company intends to use half of the proceeds of the offering for acquisitions, including the consolidation of minority interests in its subsidiaries.

For further information, please contact:

Catherine Mattison        
Press Office   +44 (0)20 7797 1222           
newsroom@londonstockexchange.com

Notes to editors:

About the London Stock Exchange

The London Stock Exchange is the world’s premier international equity exchange and a leading provider of services that facilitate the raising of capital and the trading of shares.

The London Stock Exchange is the most international equities exchange in the world and Europe's largest pool of liquidity. By the end of 2006, the market capitalisation of UK and international companies on the London Stock Exchange’s markets amounted to £4.4 trillion, with £6.7 trillion of equity business transacted over the year.

The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority.

Companies considering flotation have a choice of markets:

AIM
AIM is the London Stock Exchange’s international market specifically designed for smaller, growing companies, combining the benefits of a public flotation with appropriate levels of regulation.

Main Market
The London Stock Exchange’s Main Market for established companies seeking international recognition is one of the world’s best known, longest-established and most liquid markets. It is home to some of the world’s largest and most successful companies, giving them access to one of the deepest pools of capital in the world.

Professional Securities Market
The Professional Securities Market was established in July 2005, to coincide with the introduction of the FSA's new Listing Rules. PSM provides a solution for those issuers seeking to list securities in London without having to re-state their financial information to IFRS or follow the additional requirements of an offering to retail investors. Debt securities or depository receipts of any denomination may be listed on PSM on production of a prospectus aimed at a wholesale or professional audience.

newsroom@londonstockexchange.com

 

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