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More sales of Belarusian state-owned corporate shares via stock exchange

MINSK, 2 May (BelTA) – The Belarusian government will move to raise sales of shares of state-owned companies via OAO Belarusian Currency and Stock Exchange, Vice Premier of Belarus Sergei Rumas said after the initial public offering of Minsk Plant of Sparkling Wines on 2 May.

The matter of launching a stock market will be decided in Belarus with the start of the initial public offering. “Once we sum up results of the pilot project, the government will contact the head of state to suggest further increase in sales of shares of state-owned companies via the stock exchange,” said Sergei Rumas.

He stressed that redistributing investments of citizens from making bank deposits to buying shares of companies was not the idea. “It is important to make a large number of citizens in Belarus part of the management of the open joint-stock company,” said the official. Sergei Rumas admitted individuals’ investment options are limited. “Everyone knows they can go and make a bank deposit, buy shares or buy foreign currency. Therefore, we are primarily intent on discouraging money away from the foreign currency segment where citizens just make investments benefiting foreign nations,” said the Vice Premier.