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SPB Exchange (formerly St. Petersburg Exchange)

Company

Assets

Owners

+ SPB Exchange (formerly St. Petersburg Exchange)

PJSC St. Petersburg Exchange is an exchange platform for organizing trading in securities of international companies in Russia.

As of 2021, the St. Petersburg Exchange group includes subsidiary operating companies:

Performance indicators

2021: Capital growth by 5 times up to 18 billion rubles

St. Petersburg Exchange reported record income for 2021. Net operating profit jumped 2 times to 3.3 billion rubles, but net profit decreased by 85%, since the exchange had to comply with IFRS requirements and reflect the "paper" expense under the option program for employees, although one of its shareholders NP RTS allocated shares. By 2022, the exchange significantly increased its safety margin, increasing capital by more than 5 times to 18 billion rubles. due to real profit and a successful IPO.

1602 securities of foreign issuers, including shares, depositary receipts and Eurobonds, are in circulation at organized trading. The value volume of transactions in the Regime of main trading in securities of foreign issuers in May 2021 amounted to $26.67 billion. The number of active customer accounts is 774.02 thousand.

History

2021

Holding an IPO on the Moscow Exchange, estimated at $1.3 billion

On November 19, 2021, the SPB Exchange held an IPO, placing shares at $11.5 (834.9 rubles) apiece. Securities began to be traded on the Moscow Exchange. By the opening of the site, their cost increased by 17.4%.

Also, SPB Exchange shares are placed on their own platform. The first deal with the company's shares on the SPB Exchange on November 19, 2021 was concluded at a price of $12.01. According to data at 10:10 Moscow time, the value of the company's shares grew by 12.41%. An hour later, the price of one share was already $12.28, and the volume of trading - $15.2 million, follows from these trading.

SPB Exchange held an IPO and was valued at $1.3 billion

As part of the IPO, investors were offered up to 15.2 million ordinary shares (about 13.3% of capital). The placement went along the upper limit of the price range. According to the results of the listing, the St. Petersburg Exchange's valuation amounted to $1.3 billion.

According to Vedomosti, the re-listing of the application book during the placement amounted to 500%, and total demand was above $800 million, while the company expected to attract about $150 million.

The exchange plans to use the funds raised from investors to realize corporate goals, including to increase the capital of the key operating subsidiaries Best Efforts Bank and the MFB Clearing Center NCO-Central Committee.

According to the additional issue approved by the Bank of Russia, the authorized capital of the exchange can be doubled by placing 114 million 86 thousand 160 shares with a nominal value of 3.75 rubles each. Currently, the authorized capital of the exchange is 427.82 million rubles. Outside the Russian Federation, 57 million 43 thousand 80 shares of the exchange can be placed and traded, but not more than 25% of the total number of outstanding shares, the regulator said.

According to Interfax, SPB Exchange also plans to place its shares on the Nasdaq exchange in April 2022.[1]

Roman Goryunov - the new general director of the exchange

On October 6, 2021, the board of directors of St. Petersburg Exchange approved Roman Goryunov as the new general director of the company. He will replace Yevgeny Serdyukov, who will remain on the board of St. Petersburg Exchange and will continue to be responsible for the development of exchange markets as the first deputy head. More details here.

BCS Mir Investments acquired 2.5% of the exchange from NP RTS

In June 2021, BCS Mir Investments acquired 2.5% of the St. Petersburg Exchange from NP RTS, which remains under the control of 25% of the stock exchange.

Tinkoff Group owns 5% of St. Petersburg Exchange

The Tinkoff Group and the NP RTS Association, the main shareholder of the St. Petersburg Exchange, signed a memorandum of cooperation on June 4 and agreed to sell the shares of the St. Petersburg Exchange to the NP RTS Association in the amount of not more than 7.5% of the authorized capital. This was announced on June 4, 2021 by TAdviser in TCS Group Holding.

Тинькофф стал совладельцем Санкт-Петербургской биржи
Фото: RIA Novosti/ Ramil Sitdikov

According to the agreements, the parties intend to make joint efforts aimed at expanding the list of financial instruments circulating at organized tenders held by the St. Petersburg Exchange. Tinkoff and the NP RTS Association will work in a coordinated manner to develop an organized market for Russian securities, in particular, the primary, as well as the organized market for derivative financial instruments, including options for securities of international companies.

As noted, Tinkoff Investments is one of the largest bidders on the St. Petersburg Exchange (in terms of trading volume, the number of registered and active customers, as well as in terms of client assets). In 2020, the number of Tinkoff Investments clients increased 5 times, customer profits amounted to 30 billion rubles. Tinkoff Investments continues to develop its information and educational services inside the mobile application and on the tinkoff.ru. Since the launch, all the tasks of the investment training center have been completed by more than 1.2 million people. More than 1.2 million users are registered on the Tinkoff Investment Pulse social network.

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"The St. Petersburg Exchange is our key partner in trading foreign securities: Tinkoff Investment customers make hundreds of thousands of transactions on the exchange per day. Cooperation within the framework of the memorandum will allow us not only to strengthen existing synergies, but also to jointly develop and provide investors with a wider range of financial instruments, including complex investment products. All this will allow us to actively participate in the formation of a favorable environment for the further development of the brokerage services market in Russia, "said Stanislav Bliznyuk, Chairman of the Board of Tinkoff Bank.
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"The St. Petersburg Exchange is developing as an independent market-oriented platform, creating a corporate structure in which bidders are partners and shareholders. To this end, the Association "NP RTS" consistently reduces its stake in the capital of the St. Petersburg Exchange, attracting key bidders as shareholders. Therefore, the signing of a memorandum of cooperation with the long-time partner of the Exchange - Tinkoff Bank - was a logical continuation of the development strategy. The Tinkoff Bank team has been setting trends in the banking business for many years and seems to me an endless generator of ideas in all areas for which it is taken. And Tinkoff Investments confirm this rule: the service has become the most popular from the first day, which made it possible to revolutionize the Russian investment market. Tinkoff Bank became our leading partner, topping the ratings of financial intermediaries on the St. Petersburg Exchange. I am sure that we will continue to actively participate in the development of our companies for the benefit of the Russian financial market, "said Roman Goryunov, president of the NP RTS Association, member of the board of directors of the St. Petersburg Exchange.
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VTB acquired 5%, Sovcombank increased its stake in the exchange to 18.5%

In April 2021, VTB acquired 5%, Sovcombank increased its stake in the exchange to 18.5% due to the exercise of the option, in March Derzhava Bank sold 5.8% under direct control to its owner Sergey Entz.

The volume of trading of the exchange for the first time exceeded the indicator of the Moscow Exchange

In January 2021 in Russia, for the first time in history, the St. Petersburg Exchange had higher volumes than the Moscow Exchange, because on the first you can trade foreign shares. Trading volume for SPB increased in January by 14% to $36.1 billion. The Moscow Exchange, focused on Russian securities, recorded the equivalent of $30.2 billion.

2020: 10-fold increase in trading volume on the stock exchange

The volume of trading in securities of foreign issuers on the St. Petersburg Exchange in 2020 increased 10 times compared to 2019 and reached $167.29 billion. The results of the site were published on its website on January 4, 2021.

The number of active investor accounts on the stock exchange in 2020 increased by 7 times and exceeded 608.77 thousand, and the number of customer accounts with securities positions amounted to 750.31 thousand (an increase of 6.3 times).

Dynamics of monthly (left axis) and average daily (right axis) trading volume in the Main Trading Mode, $

This was largely facilitated by trading brokers of the St. Petersburg Exchange, who made a significant contribution to increasing the availability of investments in Russia and created investment services with quality and technology at the level of world standards, the company explained.

Dynamics of trading volume in the Main Trading Mode (T +) by year, $ billion

In 2020, in the main trading mode, investors on the St. Petersburg Exchange entered into 203.01 million transactions. The value volume of the average transaction amounted to $824.02.

Dynamics of number of customer accounts with securities items (left axis) and active accounts (right axis), thousand

The number of securities of international issuers at the St. Petersburg Exchange in 2020 increased by 22% to 1,523 instruments (as of December 31, 2020), including shares, depositary receipts and Eurobonds. Such a diverse list of securities covers all sectors of the world economy and allows an investor to find investment ideas in any market situation, as well as effectively diversify portfolios and manage risks. In particular, on August 21, the St. Petersburg Exchange launched the market for European securities denominated in euros. By the end of 2020, shares of the 10 largest issuers from Germany were available at the auction.

The five leaders in terms of turnover in 2020 in the mode of main trading on the exchange included: Tinkoff Bank, VTB, Alfa Bank, BCS and Freedom Finance. At the end of 2020, the share of the top 20 instruments in terms of trading volume amounted to 61%, and the share of the top 50 - 74%.[2]

Notes