Rusagro is considering the possibility of re-registration in another country
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Rusagro can redomiciliate (re-register a company in another country while maintaining its legal form and structure) and delist from the London Stock Exchange. Now the company is registered in Cyprus. This is reported “Prime” with reference to the words of the financial director of Rusagro Alexander Tarasov.
“At the moment, Rusagro is studying all possible solutions for redomiciliation,” Mr. Tarasov said during a conference call. He stressed that there are definitely plans for redomiciliation and the approach to delisting from the London Stock Exchange will depend on their implementation.
August 8 company reported about a 99% drop in net profit in the first half of the year. Mr. Tarasov then stated during a conference call that there was “no decision yet” on redomiciliation.
In March, the founder of Rusagro, Vadim Moshkovich, after the sanctions imposed against him left Board of Directors of the company and reduced its stake to less than 50%. In addition, the GC canceled unpaid dividends.
Rusagro is one of the largest Russian producers of sugar, meat and oil and fat products. The main assets are located in the regions of the Chernozem region. The brand portfolio includes Chaikofsky, Butcher’s Word, Hostess’s Dream, Generous Leto, etc.
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