The Moscow Arbitration Court reviewed whether to accept a bankruptcy filing from PJSC SPB Exchange and ultimately returned the petition. The information came from a court press service report picked up by RIA News.
The court clarified that the filing was submitted by the St. Petersburg Stock Exchange PJSC, asserting its own insolvency. The processing desk confirmed receipt of the document that declared the St. Petersburg exchange bankrupt.
The court’s statement noted that the filing was returned with a decision dated November 27, 2023.
Also on November 27, 2023, it was reported that a bankruptcy case for the St. Petersburg Stock Exchange had been opened, according to the Moscow Arbitration Court’s records.
Andrey Kochetkov, an analyst in the global research department of Otkritie Investments, commented that rumors about the exchange’s bankruptcy might have been spread by shareholders who hold paper assets. He suggested there was no need for immediate alarm and that any depressed stock values could potentially recover in the near term.
Earlier, the Moscow Stock Exchange continued to sanction the trading of shares on the St. Petersburg Stock Exchange platform.