The owners and management of the social network VK decided to close the company VK Company Limited, registered in the British Virgin Islands, and establish a new company in the Kaliningrad region. This is due to the company’s intention to withdraw shares and bonds from the London Stock Exchange (LSE) and conduct an initial public offering on the Moscow Stock Exchange (Mosbirzhe).
The new company VK will be established in a special administrative district of Oktyabrsky Island and will become an international company. The board of directors will include the current board members of VK Company Limited. VK stocks and bonds are expected to be removed from the LSE by September 11. Details of the initial public offering on the Moscow Stock Exchange were not disclosed.
The decision to move VK was announced in February 2023. The company decided to shift its focus to Russia, given that the majority of its assets generate income in the country. After the conflict in Ukraine, many currency exchanges, including the LSE, temporarily stopped trading shares of Russian companies.
Source: Ferra
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