Vedomosti: VK is discussing re-registration in the Kaliningrad region
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VK is in talks with the Government of the Kaliningrad Region on redomiciliation (moving a company from one jurisdiction to another without the need to close it) from the British Virgin Islands to a special administrative region (SAR) on Oktyabrsky Island. This is reported by Vedomosti, citing two sources familiar with the negotiations. Possible re-registration dates are not given.
The holding company VK Company Limited is registered in the British Virgin Islands, and its subsidiary VK LLC is in Russia, the newspaper notes. February 13 re-registration of the company was approved board of directors of VK.
The special territories were formed to return capital to Russian jurisdiction and to protect them from sanctions. Due to the tightening of sanctions against Russia, the government in March simplified the relocation of companies to the SAR, allowing personal funds of Russians and foreigners, as well as companies created before March 1, 2022, to go there.
After the start of the military operation in Ukraine, the London Stock Exchange announced the suspension of the admission of securities of 27 Russian companies, in particular VK, to trading. In November, VK announced that the investment company Prosus, owned by the South African Naspers, withdrew from the shareholders of the Russian holding, where it owned 25.9%. Prosus donated its stake to VK, which sold the paper for 24.8 billion rubles.
More details – in the material “Kommersant” “VK came under management”.
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