Companies were required to return to the stock exchange part of the shares purchased from foreigners

Companies that bought back their shares from foreign investors must return part of the securities to the stock exchange within a certain period of time. Ivan Chebeskov, director of the financial policy department of the Russian Ministry of Finance, stated this during a conversation with journalists at the Federal Legal Forum conference.

“So far there have been decisions only on those companies that made a buyback (of shares from foreign investors.— “Ъ”). There were several such transactions, only on them there were decisions that they again had to return part of these shares to the market within a certain period of time,” said Mr. Chebeskov (quoted from Frank Media).

As Ivan Chebeskov added, there have not yet been any similar decisions on the mandatory placement on the stock exchange of shares of companies leaving Russia.

Magnit Company September 14 bought it out 21.5% shares for 48.5 billion rubles. from foreign investors. In August, a request was made to the government to buy out 25% of its authorized capital from non-residents at half price entered from the oil company LUKOIL.

On February 28, 2022, the Bank of Russia limited the export of capital from Russia to non-residents in response to sanctions. In September of this year, the authorities are discussing “measures on the outflow of capital that goes through “friendly” countries.”

More details in the text “Kommersant” “Capital outflow has changed direction”.

Petr Buzlaev