TNS Energo allows delisting from the Moscow Exchange due to unreasonable growth of shares

The TNS Energy group of companies reported that it is considering the possibility of delisting (forced termination of circulation) shares on the Moscow Exchange. The reason is said to be an unreasonable increase in prices on the trading floor for the company’s securities.

“Taking into account the presence of signs of an unreasonable increase in the value of shares of TNS Energo Group, as well as for the correct formation of financial results and increasing the efficiency of management of subsidiaries, the possibility of conducting a delisting procedure is currently being considered – cessation of circulation of securities of TNS Energo and all subsidiaries on the stock exchange “, the holding says in a statement.

TNS Energy shares have risen sharply since the beginning of 2023; on August 9, their price on the Moscow Exchange reached 8,475 rubles. per share (since the beginning of the year, shares have risen in price by 1312.5%). As of 18:00 Moscow time on November 23, the value of the holding’s shares was 3.8 thousand rubles.

TNS Energo manages 10 electricity suppliers serving about 21 million consumers in 11 regions of the Russian Federation. According to SPARK-Interfax, the largest shareholder of TNS energo is Sunflake Limited (connected with the company’s ex-majority shareholder Dmitry Arzhanov), its share is 28.26%.

Together with three former top managers of TNS Energo for more than two years, Mr. Arzhanov located under investigation on charges of fraudulent theft of 5.5 billion rubles. at PJSC Rosseti. After the arrest of Dmitry Arzhanov and members of his board of directors, representatives of Rosseti entered the management of the holding.

Alexander Kislov