The Moscow Stock Exchange will suspend trading in receipts of food retailer X5 Retail Group from April 5. This was reported by the press service of the exchange. hold.
According to information from the trading platform, the reason for this decision was a lawsuit filed earlier by the Ministry of Industry and Trade of the Russian Federation, which was, in fact, the first stage of the forced relocation of the company to Russia.
Following the suspension of trading, the retailer’s revenues reacted negatively. Thus, quotes decreased by 3.75% to ₽2975.
In the press release, it was announced that the last trading day for private investors will be April 2 and for professional participants will be April 4.
In X5 Retail Group reportedHe stated that they accepted the application of the Russian Ministry of Industry and Trade to suspend the use of the company’s corporate rights in LLC “Corporate Center ICS 5”.
According to the press service, the document is in the Arbitration Court of the Moscow Region and the court hearing will be held on April 23, 2024.
A while ago, as of April 1, the Moscow Stock Exchange will exclude 639 foreign shares from the list of securities accepted for trading. The list includes mostly large American companies. These include Apple, Alphabet, Amazon, ebay, Nike, Tesla, Visa, Microsoft, Netflix and others.
Previously St. Petersburg Stock Exchange become A platform for the public offering of sanctioned companies.