VK has stopped listing and trading its securities on the London Stock Exchange (LSE). The decision is due to the company’s planned move from the British Virgin Islands to Russia. Trading of VK receipts on the LSE has been suspended since March 2022.
VK announced the cessation of listing and trading of receipts on the London Stock Exchange. Trading in the company’s securities has been limited since September 12, VK said in a statement.
The decision to delist is due to the actual suspension of trading in VK receipts as of March 3, 2022, as well as the company’s planned redomiciliation (change of business registration) from the British Virgin Islands to Russia.
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VK will maintain its listing on the Moscow Stock Exchange. VK securities in Russia reacted to the news of the cessation of trading on the London Stock Exchange with an increase of 1.3%.
On August 11, VK shareholders approved the redomiciliation of VK to a special administrative region on Oktyabrsky Island in the Kaliningrad Region.
Author:
Kirill Bilyk
Source: RB
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