Moscow Exchange will suspend trading in TCS Group receipts from February 20 – Kommersant
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Moscow Exchange (MOEX: MOEX) from February 20 will temporarily suspend trading in receipts of TCS Group Holding PLC (the parent structure of Tinkoff Bank) in connection with the re-registration of the company in Russia. Against the backdrop of this announcement, the price of TCS Group Holding PLC receipts on the trading floor decreased by almost 7%.
“In connection with the upcoming conversion of securities as a result of the redomiciliation of the issuer, when submitting applications for the conclusion of transactions with global depositary receipts representing ordinary shares of class A of TCS Group Holding PLC from February 9 to 16, settlement codes that provide for the execution of transactions no later than February 16 are acceptable , from February 17 to February 19, valid payment codes are T0 and Z0; from February 20, there are no valid payment codes,” it says message on the Moscow Exchange website.
Amid the announcement of a temporary suspension of trading in TCS Group Holding PLC securities, the value of the company’s receipts began to decline. As of 16:30, TCS Group Holding receipts decreased in price by 6.87%, to 3,056 rubles. for paper. By 17:11 Moscow time, the company’s shares slowed down and were trading at RUB 3,148. per paper (-3.95%).
The final decision on re-registration from Cyprus to the Russian special administrative region on Russky Island shareholders of TCS Group accepted January 15. After redomiciliation, TCS Group will receive the name “International company public joint stock company ”TCS Holding”.”
About changes in the company’s charter – in the material “Kommersant” “Troika for TCS Group”.
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