Translation. Region: Russian Federation –
Source: Moscow Exchange – Moscow Exchange –
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The total capitalization of companies from the Innovation and Investment Market Sector (RII SectorThe Moscow Exchange's market capitalization by the end of 2025 amounted to 965 billion rubles. Last year, the sector was replenished with securities from ten Russian issuers.
The results of the I&I Sector's work and its development prospects were reviewed by participants at a meeting of the Moscow Exchange's Coordination Council for the Innovation and Investment Market. Natalia Popova, First Deputy General Director of Innopraktika and public ombudsman for the protection of the rights of leading high-tech companies, was elected as the council's chair.
Among the areas for further development of the RII Sector, meeting participants identified the possibility of extending tax breaks for owning securities of high-tech companies and including technological sovereignty bonds and structural economic adaptation bonds.
Natalia Loginova, Director of the Issuer Relations Department at Moscow Exchange:
"We see strong investor interest in growing technology companies, so developing the IIM Sector is one of the exchange's priorities. Through the Coordination Council, we are building effective collaboration with government agencies and development institutions to support issuers entering the exchange and to create additional incentives for investing in such companies."
Natalia Popova, First Deputy General Director of Innopraktika:
"Given the shift in demand from bank lending to capital markets financing, we've begun to focus on exchange-traded instruments. In 2025, amid tight monetary policy, the IPO market shrank threefold, but the bond market rebounded, reaching a historic high. The exchange gives companies access to long-term funds without the need for collateral, and investors a tool to participate in the growth of the country's tech leaders. Furthermore, we truly want the status of a public high-tech company to be truly prestigious."
Participants also reviewed the implementation of a program to support high-tech issuers when placing securities on the stock market and the results of the selection of fast-growing technology companies for the "National Champions" project. Part of the project is the "Exchange Champions" acceleration program, which is run with the Moscow Exchange and prepares companies for public listings. More than 20 companies with combined revenues exceeding 80 billion rubles participated in the program in 2025.
RII Sector – an exchange sector for high-tech companies with significant growth potential. Currently, 28 issuers are included in the sector. Securities of companies in the sector are candidates for inclusion in List of securities of the high-tech (innovative) sector of the economyThis allows private investors who have held such securities continuously for at least one year to receive a tax benefit.
Moscow Exchange is Russia's largest exchange and the only multifunctional platform for trading stocks, bonds, derivatives, currencies, money market instruments, and commodities. The Moscow Exchange Group includes a central depository and a clearing center that acts as a central counterparty in the markets, enabling Moscow Exchange to provide its clients with a full range of trading and post-trading services.
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