VK shares fell 17% after trading resumed

Trading in ordinary shares of MKPAO “VK” (formerly VK) on the Moscow Exchange on October 20 opened with a decrease of 17.42% to a minimum of 550 rubles. for paper. As of 10:35 Moscow time, quotes adjusted to 623.4 rubles. (-6.4%).

The Moscow Exchange Index at this time was at the level of 3251.32 (-0.12%). Since the beginning of the year, it has grown by 50%, the value of the company’s securities by 63%.

VK resumed trading your securities after completion of redomiciliation from the British Virgin Islands to Russia. The decision to re-register the legal entity was made at a meeting of shareholders on August 11. On September 26, the company completed redomiciliation and was included in the register under the name “international company public joint-stock company “VK” (MKPAO “VK”).” And its global depositary receipts were automatically converted into shares of MCPAO “VK”.

Since September 21, trading in VK GDRs on the Moscow Exchange has been suspended. September 18 was the last trading day in T+1 mode.

In connection with the redomiciliation of VK on September 12 spent delisting and ceased trading of its receipts on the London Stock Exchange (LSE). VK also explained the termination of listing by the impossibility of disclosing regulatory news on the LSE and the actual suspension of trading in the company’s GDRs and bonds by the exchange from March 3, 2022.

The largest shareholder of VK is MF Technologies (57.3% of votes, 4.8% economic share), co-owned by “Sogaz“(45%) and “Gazprom-Media Holding” (45%), “Rostec” (10%). The shareholder of VK is the Singularity Lab company owned by its management (25.7% economic and 12.3% voting share as of December 31, 2021). VK shares are also owned by the Chinese Alibaba Group (9.5% and 4.5%) and Tencent (7% and 3.3%). The remaining shares are in free circulation.

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