The Central Bank of Russia and the Russian Ministry of Finance have published recommendations for state-owned companies with publicly traded shares on strengthening their relationships with retail investors, grounded in information transparency and the protection of minority shareholder rights. The guidance urges issuers to factor retail shareholders’ interests into corporate decision-making and encourages participation in the Shareholder Value Creation Programme. The recommendations call for clearer, more investor-friendly disclosure to minority shareholders on development strategy, operational and financial goals, and current performance indicators, including the use of visual aids and inclusion of these data in the annual report. Issuers are also advised to broaden and modernise communication channels to increase reach and enable feedback, ranging from press releases and dedicated website sections to management meetings, conferences for minority shareholders, social media, podcasts, and mobile apps. To deepen retail investor participation, the guidance highlights involving minority shareholders in governance, including nominating board candidates, and treats the establishment of a Minority Shareholder Committee as good practice.
Central Bank of Russia 2025-10-07
Central Bank of Russia and Russian Ministry of Finance issue best-practice recommendations for state-owned listed companies to improve retail investor engagement
The Central Bank of Russia and the Russian Ministry of Finance recommend state-owned companies with publicly traded shares enhance relationships with retail investors by focusing on transparency and minority shareholder rights. The guidance advises clearer disclosures on strategy and performance, modernized communication channels, and increased retail investor involvement in governance, including board nominations and establishing a Minority Shareholder Committee.