Moscow Exchange plans initial public offering A statement from the exchange gave no details on the size of the offering but some reports claimed it could total around $500m (£315m). The Moscow Exchange will offer shares to institutional and retail investors in Russia, to offshore investors and qualified institutions in the US, although Russia's central bank, the exchange's largest shareholder, will retain its 24.3pc stake. Vladimir Putin, the Russian President, has said he wants to turn the Russian capital into a global financial centre and stem the exodus of firms to foreign exchanges - around 65 Russian companies are listed in London. The Moscow Exchange was formed in 2011 following the merger of Moscow's two largest stock exchanges, MICEX and the RTS with a view to a float this year. MICEX-RTS was valued at $4.5bn when the two exchanges combined in a merger billed at the time as creating a 'one-stop shop' for trading a full range of financial instruments.