The Central Bank of Russia is alarmed by the expropriation of minority shareholders’ shares acquired at auctions. This statement was made by Central Bank Governor Elvira Nabiullina, whose words were quoted. TASS.
“As for the precedents regarding the buyback of minority shareholders’ shares, <…> We <…> I am concerned about this situation,” the head of financial regulation said at a press conference.
According to the information provided by the agency, we are talking about a court decision in the Perm region, according to which, at the request of the prosecutor’s office, the shares of the Solikamsk magnesium plant purchased at auction were confiscated from their owners.
According to Nabiullina, this incident affects retail investors’ confidence in the stock market, which is very important to protect.
“Here we will first look at what else we can do from a legislative perspective,” he concluded.
Before that, the Arbitration Court of the Perm Territory pleased the prosecutor’s claim to buy back the shares of private investors in OJSC Solikamsk Magnesium Plant in favor of Russia.
Formerly Central Bank of the Russian Federation approved Split of Norilsk Nickel shares.