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Shareholders' rights on behalf of the Russian Federation are executed by the Ministry of Information Technologies and Communications of the Russian Federation


22.04.2008
Three billion were awaited for two years
Federal Agency for Federal Property of the Russian Federation (Rosimuschestvo) registered the fund for IT-start-up development.

22.02.2008
Rubles hopped
The future of investment state Fund ‛Rosinfocominvest“ is receiving the concrete frames at last. On October 11, 2007 Rosimuschestvo confirmed the Charter of the Fund, the List of the Board of Directors and appointed the Director of the Fund. In the end of 2007 Rosinfocominvest will open the account for transfer of 1,45 billion rubles in the charter capital.

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"Rosinfocominvest‛: the additional issue of shares.

"Rosinfocominvest‛: the additional issue of shares.

CNews

‛Russian Investment Fund of Information and Communication Technologies‛(‛Rosinfocominvest‛) plans an increase of share capital in June, 2008 by an additional issue of shares by public subscription in the amount of 1,45 bln. of rubles. RBC agency reported that this information had been revealed by Grigory Bunatyan, the General Director of the company.

According to him, ‛Rosinfocominvest‛ is on the stage of obtaining a license for the Investment Fund in the Federal Financial Market Service, which is supposed to happen in April. The next step is going to be the additional issue of shares in May, though the stock exchange hasn’t yet been specified. It is supposed that ‛Rosinfocominvest‛ will start an investment activity in August, 2008.

Mr. Bunatyan reported that it is planned to invest in 15 companies by the end of 2008. Now 40 projects are being examined. Among the list are ‛internet-based‛ projects (nearly 20%), biotechnology projects, nanotechnology projects and electronics.

He also mentioned that the company’s new development program will be approved in the near future. According to it, the State will stay a permanent shareholder and will reinvest the profits, gained from the investment activity.

The Government of the Russian Federation officially established OJSC ‛Rosinfocominvest‛ on 9th of August, 2006. The State paid in 1.45 bln. of rubles from the federal budget and the equal sum is to be raised through the sale of shares. The base function of this fund is investment support of challenging IT companies at their start-up period, which is usually rather difficult. The maximum amount of investments for one company is fixed at 100 mln. rubbles. In conformity with the law ‛About investment funds‛, strategic management is to be performed by the Group of Directors, and day-to-day management – by an asset management company on the bases of trust contract.

 

Original Russian text: http://www.cnews.ru/news/line/index.shtml?2008/03/27/294138

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