CIC invests in Moscow Exchange

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China Investment Corp, the country's sovereign wealth fund, has invested in the pre-IPO of the Moscow Exchange, the fund's chairman Lou Jiwei said on Sunday.

"This is a financial investment rather than a strategic one, and we'll sell the investment at the appropriate time," Lou was cited by the Beijing Youth Daily as saying.

He declined to provide the exact amount invested, the paper said.

The Moscow Exchange floated shares valued at $500 million on Friday.

Financial market sources told Reuters on Thursday that the flotation had attracted foreign investors, including CIC, while Russia's State private equity fund RDIF also helped to fill the order book.

RDIF said it invested $80 million, becoming a 4.5 percent shareholder, and had attracted another $200 million to the flotation from other unnamed investors.

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