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ВЕСТНИК НП «АРФИ» НАУЧНО-ПРАКТИЧЕСКОЕ ЭЛЕКТРОННОЕ ИЗДАНИЕ ДЛЯ СПЕЦИАЛИСТОВ ПО СВЯЗЯМ С ИНВЕСТОРАМИ #14 Июнь 2015 Стратегический партнер НП «АРФИ»

ARFI Herald #14 – The Russian Investor Relations Society Herald – June 2015 edition

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  1. 1. - #14 2015
  2. 2. 2 , - , . : - - : http://arfi.ru/rus/1602 - - : www.interfax.ru www.e-disclosure.ru - : Facebook - https://www.facebook.com/groups/arfi.news LinkedIn - http://www.linkedin.com/groups?gid=1025317 - "" - http://www.slideshare.net/ARFI_content - , - http://www.org-invest.ru , : . 11703/0220812576 . 11735/0220812500 . 11711/0220812584 Zoran Design , /. . ! ( 7000+ ) - : [email protected] !
  3. 3. 3 / #14 ( 2015) IR IR- 2015. + -. : ! 2015 - 2015 $200 10 - XD China Group "" $300 ! Alt +
  4. 4. 4 $1 . En+ Group Ltd : 2020 MSCI $900 . 6 2020 Moscow seed fund " " $10 Charoen Pokphand 1 . CITIC - $25 10- $4 - IPO "" $150 Unicredit Finnvera Polyus Gold : , "" :
  5. 5. 5 / #14 ( 2015) " " 60% IPO , 30% 1,3 . , 98% say-on-pay : IR magazine Russia & CIS Awards : . Facebook : : ... LinkedIn
  6. 6. 6 .. : , : - ( 17.03.2015) 2010 2011 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 : - . ; CFETS / 2010 . 15 2010 . : - - (), : " - ", 1,24 ( 2014) : ( ); 100 , - 50 , . 10 , - 40 . 2 . 41 , 39,5% . - - ; - (- ICICI); 7 2015 ; 09.03.2015 - ; 2015 ., 2016 . , . () " ". , . - , . . : - ICE ( 20.03.2015), 1919 ; Barclays, HSBC, Bank of Nova Scotia, Societe Generale, UBS, ; 2015 Bank of China Ltd . - Industrial and Commercial Bank of China Ltd. : , . : " ", " ", , "-", USMHoldings, "", "", " " , : . .. 2015: 245 (), (). 2015: , $69,6 (-$12,6 '15). : , ( 15 ). , . 20 , .
  7. 7. 7 / #14 ( 2015) 2010 2011 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 : -. () (, , , , ) . , . : ; ; I . 2015 (Amex, JCB, MasterCard, Visa) ; 25 76 , Visa, Visa ; 2015 - "". : ( SWIFT) 2015 ; 2015 91 : , " " - : (CIPS) 2015 ( SWIFT); " " : Universal Credit Raiting Group (UCRG) ; UCRG - Dagong (), - () Egan-Jones (; ) 2013 UCRG . : ( ?) ( 10% , ) : " " (Silk Road Fund Co Ltd) $40 ( $100 ), " ". " , " XXI , 65 , (4,4 ). - 11 . , , , . , - 0,3-0,4%, . : , . 22,1 ( Wantchinatimes). : $2,5 , . SRF : ( 65%), (CIC, ; 15%) - ( 15%), (CDB; 5%). 2014 . SRF , , 15- , 7-10 , , . : - - () Urals , - "" "", " ", "", "" "". ..()
  8. 8. 8 ..() 2010 2011 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 : ( ) : ( ) : ( ). 2013 . 80% ( WGC). . Shanghai Gold Exchange (, ).; . ; 2020 . ( Barclays). : (5- ), SDR ( ). : - ( , ) : (Asia Infrastructure Investment Bank, AIIB), , , , ; AIIB $100 . 57 , , , , , , , , , , , , , , , , , . 29.05.2015 - . : 75% 27 , , 25% . AIIB 5,92%. -. 20,06%, 7,5%. . AIIB 2015 . . AIIB , , . 18 1. , . , , -, 0,5 ( 50 ). : 2015 - ( 100 . , 18 .) , - . 07.04.2015 - . . 07.07.2015 -
  9. 9. 9 / #14 ( 2015) .....................................................................................................................24 - ........................................................................................................25 : & ........................................27 .................................................................................................................34 24 . : .......................... 34 ...................................................................................36 ...........................................................................................................................37 IR- 2015. 21 . : *21.05.2015+................. 37 .............................................................................................................................. 37 IR-: ........................................................................................ 38 - IR- .................................................................................................................. 38 Financial One IR-........................................................................................................ 38 IR- SlideShare !. 40 ............................................................................................................................................ 40 Thomson Reuters: " " ........................................................................................................................................... 40 : " ".... 40 : " "............................................................................................................................................... 40 PwC: " : . Case: "................................................................................................................ 41 : " 2015 : (ABB) " .............................................. 41 : "IPO " ....................... 41 ! Alt +
  10. 10. 10 .........................................................................................................................................42 [01.06.2015] ........................................................................................................................................................ 42 IR Fesco *08.07.2015+...................................... 43 .........................................44 : INVESTOR RELATIONS, .45 IPO SPO ................................................................50 2018 IPO *10.07.2015+..................................................... 54 *09.07.2015+ ............................ 54 2020 [08.07.2015] ........................................................................................................................................................ 55 *07.07.2015+.................................................................. 56 *02.07.2015+........................................ 58 *02.07.2015+................................................................... 59 () IPO *26.06.2015+ ................................................. 60 10% "" *19.06.2015+ .................................................................................. 60 IPO II 2016 *18.06.2015+61 IPO - *18.06.2015+................................... 62 IPO - [18.06.2015].... 62 *17.06.2015+............................................................................. 63 IPO 2016 *13.05.2015+ .............................................. 64 " " *14.05.2015+................................................................ 65 - IPO *11.06.2015+.......................................................................................... 66 IPO 5 . *08.06.2015+ ................ 67 *05.06.2015+ ......................................................... 68 : "" IPO "", [02.06.2015] ........................................................................................................................................................ 69 "" IPO 2015 *26.05.2015+....................................................... 69 " " 500 IPO *25.05.2015+..................... 70 - B2B . IPO *22.05.2015+................................................. 71 IPO 76 . *15.05.2015+........... 72
  11. 11. 11 / #14 ( 2015) FreshOffice IPO 2016 . *12.05.2015+................ 73 2015 2016 , - . *04.05.2015] 73 IPO 12,22% 9,028 *30.04.2015+............................................ 81 IPO *29.04.2015+............................................................................... 82 "" *27.04.2015+................................ 83 : "." SPO *24.04.2015+ .... 84 , IPO *23.04.2015+............................................. 85 DIGITAL IR ...............................................................................................................................................................86 Digital IR: ?..................................................................................................................... 86 : .............................................................88 10- $4 *15.07.2015+ ........................................................ 88 "" $150 Unicredit Finnvera *14.07.2015+.......... 88 12% "" - *13.07.2015+................................................... 90 : *13.07.2015+ ............................................ 92 3 *13.07.2015+................. 95 *13.07.2015+ ..................................... 96 2013-2014 *10.07.2015+........................ 97 *10.07.2015+ ......................................... 100 Oppenheimer Funds "" [10.07.2015] ...................................................................................................................................................... 101 *10.07.2015+ ................................................................................................................. 103 : *09.07.2015+........................................................ 106 " " - *09.07.2015]........ 112 *09.07.2015+ ............................................................. 113 [09.07.2015] ...................................................................................................................................................... 114 4 *09.07.2015+................................................................................................................... 115 *09.07.2015+ .................................................... 116 *08.07.2015+.......................................................... 117 *08.07.2015+........................................................ 117 - *07.07.2015+......................... 123
  12. 12. 12 $10 *07.07.2015+..................................................... 123 Danone 700- *07.07.15+....................................... 125 $100 *07.07.2015+ ..................................... 125 *07.07.2015+ ............................................................. 127 *06.07.2015+... 128 - *06.07.2015+................................................... 129 "-" *03.07.2015+.................................................................................................. 130 *02.07.2015+............................................................................................... 130 *02.07.2015+...................................................... 132 *01.07.2015+ .......................................... 132 KSG Agro *30.06.2015+.............................................. 133 CTC Media 2006 *29.06.2015+ .................................................. 135 IPO *29.06.2015+ ........... 136 "" *29.06.2015+..................................................................... 138 10 *29.06.2015+ ................ 141 , *29.06.2015+ ............... 142 "" : *26.06.2015+................................ 142 *26.06.2015+................................................ 144 : *25.06.2015+....................................... 145 " " $120 *25.06.2015+....................... 146 *26.06.2015+............................................ 147 *24.06.2015+..................................................................................... 148 20 *23.06.2015+................... 151 *23.06.2015+........................................................................... 152 *22.06.2015+ ..... 153 Forbes: *22.06.2015+ .......................... 154 EY: *19.06.2015+.......................................... 155 XD China Group "" *18.06.2015+ .................... 156 65 *19.05.2015+........................................... 157 - *17.06.2015+ ............................................................ 157 72,27% *23.06.2015+... 159 : , *22.06.2015+ ..................... 160 : *21.06.2015+ ............... 165 : . *21.06.2015+................ 165
  13. 13. 13 / #14 ( 2015) AIIB $50 *20.06.2015+................. 166 - 29 $20 . *20.06.2015+ ........................................................................................................................................................................... 166 Charoen Pokphand 1 . *20.06.2015+ ......................... 168 *20.06.2015+........................................ 169 : *19.06.2015] ...................................................... 170 : , [19.06.2015] ...................................................................................................................................................... 174 : , [19.06.2015] ...................................................................................................................................................... 179 : *19.06.2015+......................................................... 180 : IPO *19.06.2015+ ....................................................... 181 : *19.06.2015+.................................. 183 ? *19.06.2015+......................................................................... 184 $300 *19.06.2015+ .................................. 188 - $20 *18.06.2015+ .................. 188 : - , *17.06.2015+.......... 190 - *17.06.2015+.............. 196 *15.06.2015+............................................. 198 *11.06.2015+................................................................................. 200 *11.06.2015+..... 201 "" , - *10.06.2015] .............................................. 201 *09.06.2015+........................................................................................ 202 Moscow seed fund [09.06.2015] ...................................................................................................................................................... 205 2015 7,5 [08.06.2015] ...................................................................................................................................................... 206 *08.06.2015+........................................................................ 207 *08.06.2015+ ....................................................... 208 - *08.06.2015+............................. 209 *04.06.2015+........................................................................ 210 *04.06.2015+.............................. 212 *03.06.2015+.......................................................................... 213 *01.06.2015+ .......................................... 214 (23,54%) *01.06.2015+ .................. 214
  14. 14. 14 emerging markets 2015 6 *01.06.2015+........................ 215 $1 . En+ Group Ltd [26.05.2015] ...................................................................................................................................................... 216 $3 , *25.05.2015+ .............. 216 " " *24.05.2015+........................................................................................................................... 218 , , , - *23.05.2015+219 2,5 *22.05.2015+..................................................................... 219 " " *22.05.2015+.............. 220 IPO *22.05.2015+............................ 221 EBRD [22.05.2015] ...................................................................................................................................................... 221 : *22.05.2015+ .......................................... 222 6 ; 2014 $56 *21.05.2015+................................................................................................ 223 : Facebook , *20 2015+............................................................................................................................... 223 Polyus Gold *20.05.2015+ ........................................ 224 *15.05.2015] 225 *19.05.2015+ ..................................................................................................................................... 226 "" *15.05.2015+................................................................. 227 *13.05.2015+.................................................... 227 CITIC - *08.05.2015+..................................... 228 : CITIC *15.05.2015+ ........................................ 230 2/3 - [13.05.2015] ...................................................................................................................................................... 232 - - *13.05.2015+ ........................................................................................................................................................................... 234 , . *11.05.2015+..................................................................................................................................... 235 200 . *09.05.2015+..................................................................... 238 $25 [08.05.2015] ...................................................................................................................................................... 238 "" *05.05.2015+.............. 239 " " 2012-2013 *30.04.2015+ ................. 240
  15. 15. 15 / #14 ( 2015) $1,5 *24.04.2015+.............................................. 241 2020 *24.04.2015+............................................ 242 *23.04.2015+ ........................................................................................................................................................................... 244 Mosprime *23.04.2015+ ........................... 245 "" RU DATA *23.04.2015+................................................................................................................................. 246 *23.04.2015+249 11,5% *22.04.2015+.................... 250 " " - *22.04.2015+....... 251 Moody's *22.04.2015+...................................................................................... 252 $200 *21.04.2015+..................................................... 253 : - ( 568 2014 ) [14.05.2015] ...................................................................................................................................................... 254 *13.05.2015+.......................................... 255 ? *11.05.2015+....................................................................................... 256 : ................................................................................258 [09.07.2015] ...................................................................................................................................................... 258 1,3 . *01.07.2015+ ............................. 259 " " *01.07.2015+ ............................................................................................................................................ 261 *30.06.2015+...................................................... 262 "" *26.06.2015+............... 264 , 30% *22.06.2015+ ........................... 266 - Polyus Gold [22.06.2015] ...................................................................................................................................................... 267 *22.06.2015+ .............................................. 268 *10.06.2015+ ........................................................................................................................................................................... 270 100% *08.06.2015+ ...... 271 8 , *08.06.2015+...................................................................................................................................... 272 *15.05.2015+ ............................................................................................................................... 273
  16. 16. 16 *04.06.2015+ ........................................................................................................................................................................... 273 *28.05.2015+275 - *14.05.2015+...................................................................................................................................... 276 *12.05.2015+........... 277 60% - *12.05.2015+ ........................................................................................................................................................................... 279 *07.05.2015+280 *05.05.2015+ ............................................................................................................................... 281 : ..........................................................................282 , [09.07.2015] ...................................................................................................................................................... 282 - *08.07.2015+ ........................................................................................................................................................................... 283 " " *07.07.2015+.............................. 284 *01.07.2015+............................................... 285 *06.05.2015+ .................................................. 286 *24.04.2015+........................ 288 *22.04.2015+........................... 290 *21.04.2015+ ............................... 291 [20.04.2015]...................... 292 - [18.04.2015] ...................................................................................................................................................... 292 : , ..........................................................................................293 : , ................................................................................................................................................... 294 ........................................................ 294 .......................... 295 , ................................................................................................................................ 295
  17. 17. 17 / #14 ( 2015) ................................................................................................................. 296 - ................................................. 296 : 2016............................................ 297 : " " ................................................................... 297 , : ......................................................... 298 , , .................................................................................................................. 298 : .. 298 ? ...................................... 299 , , ................................................................................... 300 ........................................................................................ 300 .................................... 301 ..................................................................... 301 ? ......................................................................................................... 302 ............................................................................................. 302 ?.................................... 302 ............................................................................................................................................................ 303 : ................................................................................................................................ 303 ............................................................................ 304 ............................................................................................................................................................. 304 ....................................................................................................................................................... 304 - . ........................................................................................................................ 305 ............. 305 , : ................................................................................ 305 - , - ......................................................................................... 306 : ................................................................ 306
  18. 18. 18 , ......................................................................................................................... 308 : ............................................................... 308 " " (), (KASE): .......................... 309 10 .................................................................................................................................................. 310 , , . ......... 310 19-21 12- 310 ........................................................ 311 V- ...................................................... 311 NASDAQ DUBAI (KASE) ..................................................................................................................................... 311 ......................................................................................................................................... 312 ............................................. 312 : , ...................... 312 ...................................................... 313 , .............................................................................................................................. 313 .......................................... 313 ........................................................................ 314 - FITCH RATINGS............................................................................................................................................................. 314 G20?..................................................................................... 314 : , ............... 315 ...................................................... 315 ........................................................................................... 316 ............................................... 316 .................. 317 ...................................................................................... 317 - ........... 318 ................................... 318 ................ 318
  19. 19. 19 / #14 ( 2015) .................................................... 319 ............................................. 319 ...................................... 320 , . ....................................................... 320 ....................... 320 : ...........................................................................................322 *14.07.2015+ ...................................................... 322 *10.07.2015+....................... 323 : *10.07.2015+................................................................. 324 $40 *08.07.2015+............................. 327 *06.07.2015+................................................ 328 *06.07.2015+ .......................................................... 329 IPO *04.07.2015+ ......................... 333 - Yapingguo.com *03.07.2015+............................. 333 *03.07.2015+ .................................... 334 2014 $89.1 *03.07.2015+ ...... 335 *29.06.2015+........................................................... 335 IPO *29.06.2015+ ......................................................... 336 - *26.06.2015+ ............................. 336 2020 [26.06.2015]................................................................ 337 50%. *25.06.2015+............................ 340 10%, 381 *25.06.2015+ .................................. 341 *24.06.2015+.............................................................................. 341 CITIC $113 " , " *24.06.2015+............ 343 : , [18.06.2015] ...................................................................................................................................................... 344 *18.06.2015+ ...................................................................... 345 -, [17.06.2015] ...................................................................................................................................................... 345 - 32 $506 *12.06.2015+............................................ 347 MSCI [10.06.2015]........................................................................... 347 IPO *08.06.2015+.......................................... 348
  20. 20. 20 *05.06.2015+ ....................................................................................... 349 100 ($16 ) [28.05.2015] ...................................................................................................................................................... 351 *05.06.2015+............................................................................ 351 2015 852 *05.06.2015+352 *04.06.2015+........................................................................... 353 -IPO: Focus Media *03.06.2015+ .................................................... 354 $900 . 6 *01.06.2015+................... 356 2014 11,69 *29.05.2015+............................................................................................................................................. 356 [29.05.2015] ...................................................................................................................................................... 357 IPO *26.05.2015+ .......................... 358 $300 *25.05.2015+ .......................................................................................... 359 *24.05.2015+ ............................................................... 359 *22.05.2015+...................... 360 *22.05.2015+............................................. 360 Made in China: 2025 *23.05.2015] ........................................................................................................................................................................... 361 ("Die Welt", ) *22.05.2015+........ 363 *21.05.2015+........................................................ 366 *16.05.2015+........................................................... 366 100 *20.05.2015+ ........................................................................................................................................................................... 367 WSJ: *19.05.2015+ ........................................ 368 : *19.05.2015+ ....... 369 IPO *19.05.2015+.............................................................. 370 *19.05.2015+...................................... 370 *18.05.2015+ ....................... 371 *17.05.2015+.............................................. 374 *16.05.2015+ ......................................... 375 22 *16.05.2015+............................................. 376 *11.05.2015+........................................................................ 377 : ..............................................................................................378
  21. 21. 21 / #14 ( 2015) Facebook : $250 [14.07.2015] ...................................................................................................................................................... 378 Reuters: M&A c 2004 *14.07.2015+.......................................................... 379 , [14.07.2015] ...................................................................................................................................................... 381 -10 *07.07.2015+........................................................................ 382 38% *30.06.2015+.......................................................... 383 *29.06.2015+ .................................................. 384 $300 *09.06.2015+............................................. 385 98% say-on-pay [02.06.2015] .................. 386 *28.05.2015+ ......... 386 SEC - $5,5 *23.06.2015+.................................................................................................. 387 SEC IFRS US GAAP *22.05.2015+.... 388 SEC *17.06.2015+ ........................................... 389 *03.06.2015+ ................................... 389 *25.05.2015+ .................................. 391 Uber $1 *22.05.2015+.................... 391 *20.05.2015+ ......................................................................... 392 *12.05.2015+ ........................................................................................................................................................................... 395 SEC - *07.05.2015+................................................. 396 emerging markets *20.04.2015+ ........................................................................................................................................ 397 : 2015 - 2015..................399 .............................................................................................................................405