Mass privatization started in the Russian Federation Oct. 1. Under the program, each citizen will receive privatization coupons by the end of the year, exchangeable for company shares worth 10,000 rubles-about $40 according to the current rate of exchange.

Russian authorities are encouraging citizens to buy shares, arguing that investment in shares will be much more profitable than in rubles due to inflation, which has reached 1,000 percent this year. Despite promotional efforts, privatization coupons attracted little interest.