Покупка акций новых компаний: Купить акции российских компаний онлайн, актуальные котировки на сегодня 14.07.2020

Какие акции покупать во время пандемии? Что насчет подешевевших акций крупных кампаний?

Спад рынка происходит из-за паники, связанной с пандемией. Инвесторы начинают выводить деньги из активов, меньше рисковать. Но в долгосрочной перспективе рынок всегда растёт. Временное снижение стоимости акций из-за кризисов, сменятся восстановлением и ростом. Новички могут использовать это время, что купить акции крупных компаний «со скидкой».

Вот насколько подешевели бумаги нескольких известных компаний.

График индекса Dow Jones за 35 лет с отметками самых сильных кризисов за этот период.

Dow Jones – это индекс, который отображает общую динамику 30 крупнейших компаний США (Apple, Microsoft, American Express, Coca-Cola, Nike и других). На графике видно, что после каждого падения рынка следовал рост.

График индекса ММВБ за 20 лет с отметками кризисов.

ММВБ – индекс, который отображают динамику 50 крупнейших российских компаний («Газпром», «Лукойл», Yandex и т.д.).

Акции, которые рекомендуют покупать инвестиционные аналитики во время пандемии.

Как купить акции

Частное лицо может купить акции российских и зарубежных компании на бирже. В России есть две основные биржи – Московская и Санкт-Петербургская.

Но покупать акции напрямую на бирже частному лицу нельзя. Для этого нужно воспользоваться услугами брокера – компании, через которую проходит покупка или продажа ценных бумаг по поручению инвестора.

Чтобы начать вкладывать деньги через брокера, необходимо открыть у него брокерский счёт. Сделать это несложнее, чем заказать банковскую карточку.

Оформить брокерский счёт и покупать акции можно дистанционно. Для этого воспользуйтесь интернет-витриной ценных бумаг:

1. Перейдите в карточку акции, например, «Аптеки 36,6» https://invlab.ru/action/aptk/.
2. Нажмите на кнопку «Купить» и заполните заявку на брокерский счёт. Он открывается бесплатно у брокера «Тинькофф Инвестиции».
3. Когда счёт будет готов, пополните его картой и сделайте покупку акций через мобильное приложение или личный кабинет. Доступы туда вам тоже даст «Тинькофф».

Фильтр акций – Investing.com

Гарантированная игра на ставках доходности Поиск акций компаний со стабильными и высокими дивидендами и низкой волатильностью (бета-коэффициентом)

Условие	мин	макс.
Бета	0,10	1,00
Средний объем (3м)	50,00K	макс.
Дивиденд. доход (%)	7,50	макс.
Уровень роста дивидендов (ANN)	10,00	макс.

Высокий риск, высокая прибыль Поиск наиболее активных и динамично торгующихся акций с высокой волатильностью

Условие	мин	макс.
Цена	5,00	макс.
Средний объем (3м)	50,00K	макс.
Бета	1,50	макс.
RSI (14 / 1D)	0	40,00
Прибыль на акцию	0	макс.

Компании с дешевыми акциями, выплачивающие дивиденды Поиск дешевых компаний, которые стабильно выплачивают и постоянно увеличивают дивиденды

Условие	мин	макс.
Дивиденд. доход (%)	5,00	макс.
Уровень роста дивидендов (ANN)	0	макс.
Цена	5,00	макс.
Средний объем (3м)	50,00K	макс.
Коэффициент цена/прибыль (TTM)	0	20,00

Низкая стоимость, высокая известность Поиск дешевых акций с повышенным вниманием на рынке (по средним объемам) и низкой волатильностью (бета-коэффициентом)

Условие	мин	макс.
Средний объем (3м)	1,50M	макс.
Цена	0	1,00
Бета	0,75	1,50

На грани прорыва Поиск акций, находящихся на грани прорыва в область более высоких ценовых значений

Условие	мин	макс.
RSI (14 / 1D)	45,00	65,00
Изменение (%) с 52-недельного макс.	-25,00	0

Перспектива падения Поиск акций, которые могут опуститься до более низких ценовых значений

Условие	мин	макс.
Изменение (%) с 52-недельного мин.	0	25,00
RSI (14 / 1D)	35,00	55,00

Быстрорастущие компании Поиск акций компаний, работающих в режиме быстрого роста

Условие	мин	макс.
Рост продаж за последние 5 лет	40,00	макс.
Цена	5,00	макс.
Рыночная кап.	100,00M	макс.
Рост прибыли на акцию за 5 лет	0	макс.

Прибыльные молодые технологические компании Поиск акций прибыльных молодых технологических стартапов, которые недавно стали публичными

Условие	мин	макс.
Цена	5,00	макс.
Рыночная кап.	мин	1,00B
Коэффициент цена/прибыль (TTM)	0	макс.

Недооцененные акции Поиск недорогих акций недооцененных компаний

Условие	мин	макс.
Цена	5,00	макс.
Рыночная кап.	1,00B	734,46B
Коэффициент цена/прибыль (TTM)	мин	20,00
Коэффициент цена/балансовая стоимость (MRQ)	мин	2,00

Устойчивый баланс Поиск состоятельных, процветающих компаний

Условие	мин	макс.
Цена	5,00	макс.
Рыночная кап.	10,00B	734,46B
Коэффициент текущей ликвидности (MRQ)	2,00	макс.
Коэффициент общей суммы задолженности к акционерному капиталу	мин	10,00

Высокоприбыльные компании Поиск компаний с наиболее эффективными операционными моделями

Условие	мин	макс.
Цена	5,00	макс.
Рыночная кап.	10,00B	макс.
Доход	1,00B	макс.
Валовая прибыль (5YA)	40,00	макс.
Операционная маржа (5YA)	30,00	макс.

90000 Singapore Company Share Capital, Share Classes, Shareholders 90001 90002 Key Facts 90003 90004 In Singapore, 90005 90006 90007 Minimum share capital is S $ 1 90008 90007 Private limited companies must have a minimum of 1 shareholder and can have a maximum of 50 shareholders 90008 90007 Singapore allows 100% local or foreign shareholding 90008 90007 Shares can be issued in any major currency 90008 90007 Companies have the freedom to create different share classes that offer different rights and privileges to shareholders 90008 90007 Companies are free to issue shares at any time with the approval of the shareholders 90008 90007 Shares can be freely transferred between shareholders unless such a transfer is restricted by the company constitution 90008 90021 90002 Share Capital Requirements 90003 90004 Share capital refers to the money that has been invested in the company by shareholders in exchange for shares a company has issued to shareholders.Under Singapore company law, companies can issue shares without receiving full payment from the shareholders. As such, the total share capital of a company can be divided into two categories: paid-up capital and unpaid capital. 90005 90004 90027 Paid-up capital 90028 refers to the money that shareholders have paid in full for the issued shares. 90027 Unpaid share capital 90028 refers to the situation when none of the monies due for an allotment of shares that have been issued have been paid.In small companies the share capital is often unpaid and remain due to the company indefinitely. 90005 90004 Singapore company law requires all companies to maintain share capital throughout the life of the company. To incorporate, companies must have a minimum of S $ 1 in paid-up capital. Company shares can be issued in any major currency; although, for convenience, Singapore dollars are preferred. 90005 90002 Types of Shares 90003 90004 Singapore company law allows companies to create share types that offer different privileges and rights to shareholders.A list of the most common types of shares issued by Singapore companies is below. 90037 90005 90006 90007 90027 Ordinary shares 90028: All companies are required to issue one ordinary share in order to incorporate. Typically, ordinary shares offer voting rights of one vote per share at general meetings, the right to dividends and the right to claim the remaining assets when the company is wound up. 90008 90007 90027 Non-voting shares: 90028 Unlike ordinary shares, non-voting shares do not give the shareholder the right to general meetings or to vote.Non-voting shares are generally issued to employees or the main shareholder’s family members. 90008 90007 90027 Preference shares: 90028 In general, preference shares give special rights over ordinary shareholders with respect to dividend payments. For example, a company may choose to issue dividends to preference shareholders first before ordinary shareholders. Furthermore, preference shares may have rights to claim the assets of the company over ordinary shareholders. In most cases, preference shares are non-voting shares.90008 90007 90027 Alphabet shares: 90028 A company can choose to create different classes of shares (e.g. Class A, Class B, Class C) with each offering different rights and privileges to shareholders. 90008 90007 90027 Management shares: 90028 Often given to the founders of the business, management shares usually offer extra voting rights. 90008 90007 90027 Redeemable shares: 90028 Normally, a redeemable share is issued with the condition that the company will buy back the share at a future date.90008 90007 90027 Deferred shares: 90028 No dividend is paid to deferred shares until a minimum dividend has been paid to all other shareholders. 90008 90021 90002 Shareholder Requirements 90003 90004 According to Singapore company law, a private limited company must have a minimum of 1 shareholder and can not exceed a maximum of 50 shareholders. Shareholders can be natural persons or corporations and can be local or foreign. Furthermore, Singapore allows for 100% company ownership by foreign shareholders.90005 90004 To become a shareholder, an individual must first purchase shares of the company. By buying shares, a shareholder is an owner of the company. Since the company is a separate legal entity, the shareholder does not hold any assets of the company nor is she liable for the debts of the company. As owners of the company, shareholders are entitled to certain rights. Lastly, along with those rights, shareholders are also bestowed with certain responsibilities. 90005 90004 Thinking of incorporating in Singapore? Let’s get started.EASIER, FASTER, BETTER. 90005 90002 Share Issuance 90003 90004 A company can issue new shares at any time by passing an ordinary resolution of the shareholders and filing a return of allotment. The company must file a return of allotment with the Accounting and Corporate Regulatory Authority (ACRA) through BizFile within 14 days of issuing the shares. The return of allotment must include the following information: 90005 90006 90007 The number of the shares in the allotment 90008 90007 The amount (if any) paid or deemed to be paid on the allotment of each share 90008 90007 The amount (if any) unpaid on each share 90008 90007 The class of shares issued (if applicable) 90008 90007 The full name, identification, nationality, and address (for shareholders who are individuals) 90008 90007 The corporation name or UEN, and address (for shareholders that are corporations) 90008 90007 The number and class of shares held by each of its members 90008 90021 90002 Share Transfer 90003 90004 Shares can be bought and sold between shareholders and such transactions are known as a transfer of shares.Shareholders are free to transfer shares with other shareholders subject to any restrictions by the company constitution. Furthermore, company directors normally do not have the right to refuse the transfer of shares from one shareholder to another. 90005 90004 When a transfer of shares has occurred, the company must file a notice of transfer of shares with ACRA using BizFile or report the transfer in the annual returns. 90005 90002 Shareholder Rights 90003 90006 90007 90027 Voting rights: 90028 The typical ordinary share gives a shareholder one vote.Shareholders exercise their voting rights when an ordinary resolution is required. Examples of ordinary resolutions include: 90006 90007 Appointing and removing auditors 90008 90007 Electing a new director to replace a retiring director 90008 90007 Altering the company’s constitution 90008 90007 Changing the share capital of the company 90008 90007 Changing the name of the company 90008 90021 90008 90007 90027 Right to attend and call meetings: 90028 Shareholders have the right to attend annual general meetings (AGMs), where they are also entitled to speak directly to other shareholders and the board of directors.In certain cases, minority shareholders can call meetings in between AGMs. Under Singapore company law, two or more shareholders who own at least 10% of the share capital of the company can call an Extraordinary General Meeting (EGM). 90008 90007 90027 Right to be treated fairly: 90028 Under section 216 of the Companies Act, shareholders can seek remedy from the government of Singapore for the following: 90006 90007 The company or the directors ‘actions are oppressive or in disregard of the interests of one or more shareholders.90008 90021 90006 90007 The act of the company, its shareholder, debenture holders or directors unfairly discriminates or is prejudicial to one or more shareholders. 90008 90021 90008 90007 90027 Rights to dividends: 90028 The directors of a company have the right to recommend the payment of a dividend of a fixed amount. However, to officially distribute a dividend, the company must pass an ordinary resolution through a shareholder vote. Typically, companies pay dividends in a hierarchy in which preference shareholders receive dividend payments first before ordinary shareholders are paid.90008 90007 90027 Right to wind up the company: 90028 In certain circumstances, shareholders can seek to wind up a company; these include: 90006 90007 The director (s) of the company acted in their own self-interest to the detriment of the company 90008 90007 The company is being used for unlawful purposes 90008 90007 The company is running a multi-level marketing or pyramid scheme 90008 90021 90008 90007 90027 Right to assets when winding up: 90028 Shareholders have the rights to company assets if the company winds up.Typically, ordinary shareholders have the last claim on any of the company’s remaining assets after debt holders and preference shareholders. 90008 90021 90002 Shareholder Responsibilities 90003 90006 90007 90027 Pay the full price for shares: 90028 Shareholders are required to pay the full amount for their shares. 90008 90007 90027 Attend and participate in general meetings: 90028 Although not mandated by Singapore company law, shareholders should attend and participate in both AGMs and EGMs.General meetings are where the company decides on ordinary and special resolutions that require a shareholder vote. In addition, general meetings are the forum in which shareholders can directly voice their opinions regarding the management of the company to the directors. 90008 90007 90027 Voice interests and opinions to the company secretary in between general meetings: 90028 Apart from general meetings, the shareholders have a direct line of communication with the board of directors through the company secretary.Since shareholders do not participate in the day-to-day management of the company, it is to their benefit to voice their opinions and interests regarding company matters to the company secretary. 90008 90021 90002 Key Takeaways 90003 90006 90007 Singapore company law allows companies to create different types of shares with different rights and restrictions to match the needs of existing shareholders and new investors. 90008 90007 Companies can issue new shares at any time by passing an ordinary resolution of the shareholders and filing a return of allotment with ACRA with 14 days of issuing new shares.90008 90007 Shareholders are entitled to the following rights: 90006 90007 The right to dividends when issued by the company 90008 90007 The right to the remaining assets when a company is wound up 90008 90007 The right to attend general meetings and vote on company issues that require an ordinary resolution 90008 90007 The right to be treated fairly by the officers and other shareholders of the company 90008 90021 90008 90007 Shareholders also have the responsibility to: 90006 90007 Pay the full amount for their shares 90008 90007 Participate and voice their interests at general meetings and vote on issues that require an ordinary resolution 90008 90007 Voice their opinion and interests to the company secretary between general meetings 90008 90021 90008 90007 Shareholders can freely transfer shares unless restricted by the company constitution.Similarly, the board of directors normally can not restrict the transfer of shares unless stated otherwise in the company constitution. Lastly, the company must file a transfer of shares with ACRA. 90008 90021 90002 Related Topics 90003 .90000 Cap Tables, Share Structures, Valuations, Oh My! A Case Study of Early-Stage Funding — Crunchbase News 90001 90002 For many entrepreneurs, especially first-time founders, raising outside capital can be daunting. Between all of the new vocabulary — like «term sheets,» «capitalization tables,» «pro rata,» and different valuation metrics — and the very real legal implications of the agreements being signed, it’s easy to get overwhelmed. 90003 90002 90005 Follow Crunchbase News on 90006 90005 Twitter 90006 & 90005 Facebook 90006 90003 90002 When you’re first starting out (or just need a refresher), it’s often best to learn from examples.So, that’s what we’re going to do today. We’re going to explain the basic mechanics of the first rounds of funding, some of the key terms involved, and how different types of financial instruments and deal structures work. Let’s start a company and build a capitalization table! And, for the sake of keeping this accessible, we’re going to try to keep the terms simple. 90003 90002 (Also note: all companies and funds mentioned in this article are fictitious and presented for the sake of example. Any resemblance to real firms is purely coincidental.) 90003 90016 Founding A New Company 90017 90002 Let’s start at the beginning. Imagine two founders, Jack and Jill. Their idea: The Internet of Wings, a buffalo chicken restaurant featuring drone delivery to all of Silicon Valley and beyond. 90003 90002 90021 90003 90002 They work with a lawyer to set up a corporation. The two decide to split their stakes at a 60-40 ratio, with the majority going to Jill because she’s going to serve as CEO and has the technical background to make the scalable part of the business — drone-based delivery — a reality.They also decide to set aside 20 percent of the shares in an equity pool for future employees. So, here’s how the ownership stakes break down at the start: 90003 90025 90026 48 percent to Jill 90027 90026 32 percent to Jack 90027 90026 20 percent for an employee pool 90027 90032 90002 Internet of Wings Inc. (Abbreviated IoW, like IoT but involving poultry) was established as a Delaware C corporation — the standard type of legal entity for venture-backed startups — with 10,000,000 shares of Common Stock outstanding, issued at a par value of $ 0.001 per share. With this, in the eyes of the law, the company is now valued at $ 10,000. Here is the capitalization table for the company at this point: 90003 90002 90036 90003 90002 Jack sets to work developing a chicken sandwich that appears to be lovingly hand-crafted, even when produced at industrial scale. And he may or may not have taken «inspiration» from Apple’s patented pizza boxes when creating packaging to keep the sandwiches intact and warm, but not soggy, during the short airlift from IoW’s rented kitchen space to the customer.Meanwhile, Jill hacks together a drone capable of flying chicken sandwiches hither and yon. 90003 90002 After months of working nights and weekends, they go to a park — their Kitty Hawk — and successfully make their first flight, which was captured on video and subsequently went viral on Periscope. With demonstrated demand for the novel idea but no cash to cover the costs of the business, Jill determines it’s time to raise some outside capital in a Seed round. 90003 90016 Seed Round Dynamics 90017 90002 Seed rounds come in two main flavors: priced and unpriced.A priced Seed round is much like any other round of funding in that the company is given a valuation, and shares in the company are purchased for cash by investors at a price determined by that valuation. 90003 90002 But today, due to their popularity relative to their priced cousins, as well as their unique structures and financial instruments, we’re going to focus on unpriced seed rounds in this section. 90003 90002 As the name suggests, in an unpriced round, the company is not given a valuation, and the investor is not necessarily purchasing a known amount of equity at the time of investment.Rather, it’s an agreement between the investor and the company to issue shares in a future, priced round in exchange for an infusion of cash at the time the unpriced Seed deal is struck. 90003 90002 The two most common financial instruments used in unpriced seed rounds are convertible notes and so-called Simple Agreements for Future Equity (or «SAFE notes»). A convertible note is a financial instrument that is issued first as debt, but then converts to equity under predetermined conditions, such as raising a priced round.A SAFE note is like a convertible note, except it’s not a debt instrument, meaning that SAFE notes do not carry an obligation to pay interest. Introduced in late 2013 by Y Combinator, the prominent Silicon Valley-based incubator program, SAFE notes are generally thought to be more founder-friendly than convertible notes precisely because they are not treated like debt, so they do not have a maturity date or interest payments associated with them. And as an added point of convenience, the agreements tend to be short, and there are comparatively fewer terms for founders to negotiate.90003 90052 Risk Management 90053 90002 Because Seed investors take on a lot of risk by investing in very early-stage companies, they’ll oftentimes add a number of provisions to their investment agreements to ensure they get a sufficiently large piece of the company to justify that risk. Two of the most common provisions in unpriced rounds are «discounts» and «valuation caps.» 90003 90002 True to its name, a discount provision grants investors the right to purchase shares at a discount from the price of shares in the next funding round.In this case, the next round is Series A, which is typically the first priced funding round a company experiences (and the point at which the convertible note or SAFE would convert to shares). Separately, a valuation cap puts a ceiling on the valuation of the company such that the investor can ensure they get a certain percentage share of a company. This helps to prevent a runaway valuation from squeezing the percentage share they’d be able to purchase in the company. 90003 90052 The Seed Deal 90053 90002 Back to Jack and Jill.They decide to raise capital in an unpriced Seed round for their startup. They figure they need to raise $ 5 million to get their company off the ground. After soliciting introductions from their network, and lots of back and forth, they find two investors eager to commit the entirety of the round. 90003 90002 Opaque Ventures agrees to a $ 2.5 million SAFE with a 20% discount provision, and BlackBox Capital will invest $ 2.5 million in a SAFE that has a $ 10 million valuation cap on the company’s pre-money valuation.Agreements are signed, money is wired to the company’s bank account, and Jack and Jill resume the process of building their venture. 90003 90002 It’s important to note that, at this time, no new shares have been created, and the value of the company remains the same because, again, this is an «unpriced» round where no new value is assigned. 90003 90016 Series A Dynamics 90017 90002 Fast forward 18 months. Business is booming, with a fleet of drones buzzing all around the Bay Area delivering chicken sandwiches to hungry customers.Jill and Jack have marshalled the financial resources from their Seed round well, having invested heavily in R & D, a few good engineering hires, and a few agreements with drone manufacturers overseas. But despite rapid growth, the company is not profitable and only has eight months left before it runs out of cash. 90003 90002 It’s time to raise a Series A round. If a company has not already raised a priced round, Series A is typically when the shares of a startup receive their first valuation.90003 90002 Amongst venture capitalists and other startup investors, it’s common to hear two types of valuations mentioned: «pre-money» and «post-money.» Put simply, a pre-money valuation is the value of the company prior to (hence «pre-«) the round’s infusion of capital. The post-money valuation is the value of the company after the round is complete, and it’s usually calculated by adding the amount of money raised in the round to the pre-money valuation. 90003 90052 The Deal 90053 90002 Jack and Jill went to Sand Hill to raise their Series A.They want to raise $ 7 million. They meet with many, many investors, and ultimately work out a deal with two new firms. One of their previous investors, BlackBox, opted to participate in the round. Here’s the breakdown: 90003 90025 90026 Cormorant Ventures will lead the round by investing $ 4 million 90027 90026 Provident Capital is participating with its investment of $ 2 million 90027 90026 BlackBox Capital rounds out the round with $ 1 million 90027 90032 90002 Analysts at Cormorant Ventures determine that Internet of Wings Inc.is worth $ 15 million prior to any investment. This is its «pre-money valuation.» Although it’s tempting to think that the company’s post-money valuation would be $ 22 million (by summing the pre-money valuation and the amount being raised here) we’ll see that the post-money valuation is actually a bit higher due to the discount and cap provisions used by the seed investors. 90003 90002 The final signing of checks and legal paperwork sets off a cascade of conversions and capitalization table adjustments as the company issues new shares to its investors.90003 90052 Seed Conversions 90053 90002 Let’s start with our Seed investors whose investments will convert to equity at this stage. 90003 90002 Opaque Ventures invested $ 2.5 million in a SAFE with the ability to purchase shares at a 20% discount to the pre-money valuation at Series A. The Series A price is $ 1.50 per share ($ 15 million pre-money valuation divided by 10 million shares , the number of shares originally created when the firm was incorporated, which we noted earlier), so at a 20% discount ($ 1.20 per share), Opaque Ventures ‘$ 2.5 million investment converts to 2,083,333 shares ($ 2.5 million divided by $ 1.20 per share) valued at $ 3.125 million, a 1.25x multiple on invested capital. 90003 90002 In the Seed round, BlackBox Capital invested $ 2.5 million in a SAFE with a valuation cap of $ 10 million. This allows them to purchase shares at $ 1.00 per share ($ 10 million cap / 10 million shares outstanding), resulting in the purchase of 2.5 million shares from their seed investment. At the new $ 1.50 share price, BlackBox Capital’s Seed investment is now valued at $ 3.75 million, a 1.5x multiple on invested capital. 90003 90052 Series A Investors 90053 90002 At a Series A stock price of $ 1.50, Cormorant Ventures purchased 2,666,666 shares with its $ 4 million investment. Provident Capital purchased 1,333,333 shares with its $ 2 million investment. And with its $ 1 million follow-on funding in the Series A round, BlackBox Capital purchases an additional 666,666 shares of Series A stock. 90003 90016 Ownership Breakdown 90017 90002 Here’s how the ownership of the company breaks down after the Series A round.Let’s start first with our capitalization table after the Series A funding round is complete. 90003 90002 90107 90003 90002 The post-money valuation of the company after raising its Series A round is roughly $ 28.875 million. Recall our temptation to say the post-money valuation should be $ 22 million ($ 15 million pre-money valuation plus $ 7 million raised in the round), but that would be incorrect in this case. 90003 90002 Clauses like valuation caps and discounts allow investors to purchase shares at a price lower than the prevailing price per share.This increases the number of shares they are able to purchase, and thus results in more shares being created. 90003 90002 To further illustrate that, let’s think about what would have happened if IoW’s Seed investors did not implement caps or discounts. They would have been issued stock at the regular share price of $ 1.50 and, accordingly, wind up with a smaller percentage of the company. The terms they put into their investment agreements both raised the post-money valuation of the company by generating more shares, and they served to give these investors a larger chunk of the company than they’d otherwise be entitled to if they purchased shares at the $ 1.50 / share price paid by Series A investors. 90003 90002 Here’s the percentage breakdown of the company’s different share classes between Seed and Series A rounds. 90003 90002 90118 90003 90002 One of the other important things to note is that, on a percentage basis, Jack, Jill, and the employee equity pool’s relative share of the company has decreased on a percentage basis. This is known as dilution. Financially, dilution is not really a big deal, because even a shrinking slice of the proverbial pie is still valuable if the size of the pie — the value of the company — continues to grow.For example, although holders of Common Stock own just 52 percent of the company after its Series A round, their collective stake is now valued at $ 15 million. And so long as share prices continue to increase in subsequent rounds, the value of their stock will continue to increase as well even as they continue to be diluted. 90003 90002 (Down rounds flip the math here, both diluting current shareholders, and driving down the value of their stake. More on that in a coming piece.) 90003 90002 Where dilution does matter, though, is in the control and voting structure of the company.In most voting agreements, voting power is often tied to the number and type of shares held by a given shareholder, founders and other investors can find themselves outnumbered during key votes as their percentage ownership of the company is diluted. This is the principal reason why many investors include anti-dilution provisions, to maintain their control in a company. 90003 90052 What We Learned 90053 90002 Raising outside money is one of the more esoteric aspects of being an entrepreneur, but it does not need to be confusing.Although we used relatively simple terms here, we discussed the differences between pre- and post-money valuations, saw how different types of deal terms affect valuation and percentage ownership, and explained how raising new rounds of funding can lead to dilution of founders ‘and early investors ‘stakes in a company over time. 90003 90002 Things are often considerably messier in the real world, but the underlying mechanics discussed here still hold. 90003 90002 90133 90003 90002 90136 Image credit: iStockPhoto / gorodenkoff 90137 90003 90139 .90000 Shares 90001 90002 90003 Gazprom is the largest joint stock company in Russia. The total number of bank accounts holding 23,673,512,900 shares of Gazprom exceeds 470,000. The Russian Government controls over 50 per cent of the Company’s shares. 90004 90005 90006 90007 Gazprom’s equity capital 90008 90009 90010 90011 Shareholders 90012 90011 Stake,% as of December 31, 2019 90012 90015 90010 90017 The Russian Federation represented by the Federal Agency for State Property Management 90018 90017 38.37 90018 90015 90010 90017 Rosneftegaz 90024 * 90025 90018 90017 10.97 90018 90015 90010 90017 Rosgazifikatsiya 90024 * 90025 90018 90017 0.89 90018 90015 90010 90017 ADR holders 90018 90017 19.70 90018 90015 90010 90017 Other legal entities and individuals 90018 90017 30.07 90018 90015 90050 90051 90002 * Companies controlled by the Russian Government 90005 90002 Gazprom’s shares are among the most liquid instruments in the Russian stock market.The Company’s stock has the largest share in the RTS and MOEX Russia indexes. Gazprom’s shares are included into the first (top) quotation lists of the Russian stock exchanges — the Moscow Exchange and the Saint Petersburg Exchange. 90005 90002 In 2020 року, Gazprom became the largest issuer in the MSCI Russia Index. 90005 90006 90007 Basic information about Gazprom’s shares 90008 90009 90010 90017 Number of shares issued 90018 90017 23,673,512,900 90018 90015 90010 90017 Nominal value of a share 90018 90017 RUB 5.0 90018 90015 90010 90017 Total nominal values ​​of an issue 90018 90017 RUB 118,367,564,500 90018 90015 90010 90017 Stock ticker symbol 90018 90017 GAZP 90018 90015 90050 90051 90002 The voting principle at the General Shareholders Meeting is ‘one voting share of the Company — one vote,’ except for cumulative voting in cases stipulated by the Federal Law on Joint Stock Companies. 90005 90090 History of equity capital 90091 90002 On May 20, 1993, Gazprom issued 236,735,129 shares at a par value of RUB 1,000 per share.The share issue was registered by the Ministry of Finance of the Russian Federation (registration No. MF73-1p-0204). 90005 90002 On October 21, 1994, the Russian Federal Property Fund carried out, in accordance with Presidential Decree No. 1705 of December 31, 1992, and based on the outcomes of the specialized cheque auction for selling Gazprom’s shares held in 61 regions of the Russian Federation between April 25 and June 30, 1994, a split-up of the Company’s shares. The shares were split in the following way: 1 share with a par value of RUB 1,000 was split into 100 shares with a par value of RUB 10.90005 90002 On August 19, 1998, in accordance with the Russian Government Resolution No. 217 of February 18, 1998. (On the Specifics of Securities Circulation Due to a Change in the Face Value of Russian Currency and the Scale of Prices), the Russian Federal Securities Commission (FSC) Resolution No. 6 of April 20, 1998. (On the Procedure for Amending the Decision on Securities Issue, Emission Prospectuses, Privatization Plans and Incorporation Documents Due to the Changes in the Face Value of Russian Currency and the Scale of Prices), and the FSC Decision of August 17, 1998, the FSC introduced and registered the amendments to the emission prospectus for ordinary nominal uncertified shares (state registration No.MF73-1p-0204 of May 20, 1993). As a result, the face value of ordinary nominal shares amounted to RUB 0.01. 90005 90002 Subsequently, all of Gazprom’s 23,673,512,900 ordinary nominal uncertified shares of the first issue (state registration No. MF73-1p-0204 of May 20, 1993), at a nominal value of RUB 0.01 per share, were cancelled because of their conversion (conducted on December 30, 1998) into the same number of ordinary nominal uncertified shares of the second issue at a nominal value of RUB 5.0 per share. 90005 90090 Depositary receipts 90091 90002 ADR stands for an American Depositary Receipt issued against Gazprom’s ordinary shares, providing for the free floating of the Company’s shares in international stock markets. The Company’s ADRs are deposited with The Bank of New York Mellon. ADR affirms the ownership of Gazprom’s shares deposited with The Bank of New York Mellon. One ADR represents two shares of Gazprom. It is possible to convert Gazprom’s ordinary shares into ADRs and vice versa.90005 90006 90009 90010 90017 Number of ADRs vs. number of Gazprom’s shares 90018 90017 1: 2 90018 90015 90010 90017 Program limit 90018 90017 35% of equity capital 90018 90015 90010 90017 Program type 90018 90017 Sponsored 90018 90015 90010 90017 ADR symbol 90018 90017 OGZPY 90018 90015 90010 90017 CUSIP 90018 90017 368287207 90018 90015 90010 90017 US_ISIN 90018 90017 US3682872078 90018 90015 90010 90017 Account depository 90018 90017 The Bank of New York Mellon 90018 90015 90010 90017 Custodian bank 90018 90017 «Gazprombank» (Joint Stock Company) 90018 90015 90010 90017 Starting date of the current Program 90018 90017 April 17, 2006 90018 90015 90050 90051 90002 Gazprom is one of the first Russian issuers of depositary receipts traded on the global stock market.90005 90006 90007 Information about ticker symbols 90008 90009 90010 90011 Stock exchange 90012 90011 Ticker symbol 90012 90015 90010 90017 Moscow Exchange 90018 90017 GAZP 90018 90015 90010 90017 London Stock Exchange 90018 90017 OGZD 90018 90015 90010 90017 Berlin Stock Exchange 90018 90017 903276 90018 90015 90010 90017 Frankfurt Stock Exchange 90018 90017 903276 90018 90015 90010 90017 Singapore Stock Exchange 90018 90017 AAI 90018 90015 90050 90051 90090 ADR Program history 90091 90002 Gazprom’s ADR Program was launched on October 21, 1996..In the late 1990s, Gazprom’s shares and the Russian stock market in general were underrated. Because of the danger of a foreign takeover, the Russian Government imposed restrictions on the purchases of Gazprom’s shares by foreign investors. At that time, there were two markets for Gazprom’s shares: the Russian market of ordinary shares and the ADR market limited to 4.4 per cent of the equity capital. The prices of shares and ADRs differed significantly from one another. 90005 90002 The Russian Government and Gazprom’s management joined efforts to liberalize the Company’s stock market.In 2005, the Government gained control over Gazprom’s shares, thus fulfilling the main condition for lifting the restrictions on the acquisition and trading of the Company’s shares. In April 2006, a new ADR Program — the so-called first-level Program — was launched. The Program provides for the possibility of trading the issuer’s receipts in the United States exclusively at the over-the-counter market and enables private investors to hold the receipts. Before that, Gazprom’s receipts were issued in line with Rule 144A and Regulation S, meaning that institutional American investors with a portfolio of over USD 100 million, as well as non-US investors, were entitled to hold the Company’s receipts.90005 90002 Before 2006, one ADR represented 10 shares of Gazprom; starting from 2006, the ratio was reduced to 1: 4, and from 2011 — to 1: 2. 90005 90002 At present, Gazprom’s ADRs are listed at the London Stock Exchange, traded at the US over-the-counter stock market and at European stock exchanges, including the Berlin and Frankfurt Stock Exchanges. As of May 7, 2015-го, about 28.392 per cent of Gazprom’s shares were floating in the form of ADRs. 90005 90002 In February 2014 року, MOEX included Gazprom’s ADRs into the Non-Listed Securities Register (List of Securities Admitted to Exchange Trading) and admitted them to stock trading.90005 90002 In June 2014 року, Gazprom’s global depositary receipts were granted a listing and included in the quotation list of the Singapore Exchange. 90005 90090 Capitalization 90091 90002 As of the end of 2019, Gazprom’s market capitalization was RUB 6.1 trillion, which equates to USD 98 billion. 90005 .90000 A beginner’s guide to limited company shares and shareholders 90001 90002 90003 Shareholders 90004 90005 90006 What is a shareholder? 90007 90002 This is the name given to anyone who owns ‘shares’ in a company limited by shares. As a shareholder, you own part of a company in relation to the proportion of shares you hold.A company can have just one shareholder or many shareholders. Each one is entitled to receive a portion of profits in relation to the number and value of their shares. 90005 90002 Shareholders are commonly referred to as ‘members’. The first members in a company — the people who set register the business and agree to become members — are also known as ‘subscribers’ because they subscribe their names to the memorandum of association during the company formation process.90005 90006 Can anyone be a shareholder? 90007 90002 Yes, any person or corporate body (company, firm, organisation etc.) can be a shareholder of a private company limited by shares. 90005 90006 What is the minimum number of shareholders required to register a limited company? 90007 90002 Companies House requires at least one shareholder to incorporate a private company limited by shares.There is no maximum number of shareholders a company can have. 90005 90006 Is a shareholder the same as a director? 90007 90002 No. A shareholder owns a company through the purchase or acquisition of shares; a director is appointed by those shareholders to manage the operational activities of a company. 90005 90002 However, a shareholder can also be a director.This is very common in small companies and start-ups. In many cases, just one person will assume the role of sole shareholder and sole director. 90005 90006 What does a shareholder do? 90007 90002 Shareholders own shares in a company. The ‘nominal’ value of their shares is the amount they are liable to pay toward business debts. 90005 90002 Shareholders receive a portion of company profits in relation to the number and value of their shares.90005 90002 They are not responsible for the day-to-day activities of the business, unless they are also directors. Company owners will only make decisions about significant matters such as changing the name of the business, appointing or removing directors, changing directors ‘powers and altering the articles of association. 90005 90002 90003 Shares 90004 90005 90006 What are shares? 90007 90002 A share is a piece of a company limited by shares.Each piece represents a certain percentage of the company. Anyone who owns shares in a limited company is called a ‘shareholder’ or ‘member’. 90005 90002 The number of shares held by each member determines how much of the company they own and control. They normally receive a percentage of trading profits that correlates with their percentage of ownership. 90005 90002 Here are some really simple examples of popular share structures: 90005 90046 90047 90048 One issued share = 100% ownership of the company.90049 90047 90048 Two of equal value = 50% ownership per share. 90049 90047 90048 10 of equal value = 10% ownership per share. 90049 90047 90048 100 of equal value = 1% ownership per share. 90049 90059 90006 How many shares can a company issue? 90007 90002 The minimum quantity of shares that a company can issue is one.This is common when someone is setting up a limited company as the sole owner and director. There is no upper limit, so you can issue as many shares as you like during the incorporation process of after your company has been set up. 90005 90006 Can I issue different types of shares? 90007 90002 You can create and issue any type you like, whether that is during or after company incorporation. Most companies issue ‘Ordinary’ shares of equal value, which provide members with equal voting rights and equal profit rights.Alternatively, companies can issue multiple types ( ‘classes’) and values ​​of shares to provide members with different voting and profit rights. 90005 90006 How much is a share worth? 90007 90002 Shares have a nominal value and a market value: 90005 90046 90047 90048 The nominal value, which is usually £ 1, is the sum that a member has paid, or agreed to pay, for their portion of the company.This is the sum the member is legally required to pay toward company debts or contribute when the business is wound up. Therefore, the nominal value represents the ‘limited liability’ of a company’s owners. 90049 90047 90048 The market value of a share is the amount it is worth when it is sold. This will vary from the nominal value. 90049 90059 90002 The difference between the nominal value and market value is known as the share ‘premium’.90005 90006 How do I register a limited company with multiple share classes? 90007 90002 Our sister website, Quality Company Formations, provide a specialist Multiple Share Class Package for anyone who wishes to set up a limited company with multiple share classes./p> 90005 90002 This package will also allow you to upload bespoke articles of association, as opposed to adopting Model articles from Companies House.90005 90002 Incorporation with Companies House will typically take around 3 to 6 working hours (subject to Companies House workload), and your new company will be ready to trade on the same day. 90005 90006 See also … 90007 90002 1st Formations provide a Transfer of Shares Service at a cost of £ 49.99, and also an Issue of Shares Service at a cost of £ 59.99. 90005 90002 Both services are delivered by our in-house Company Secretarial Team.please call 020 3984 5387 for more information. 90005 .