A statement declaring SPB Exchange JSC bankrupt appeared in the archives of the Moscow Arbitration Court. Immediately after this message, the values of the trading platform fell by more than 10%, to 85.3 rubles per share. The maximum drop was almost 35%. At 10:31 Moscow time the securities had recovered from the fall and were trading at 92.4 rubles (-7.7%).
The site itself, as Forbes reports, denied the information that it had filed for bankruptcy.
“SPB Exchange did not declare bankruptcy. The St. Petersburg Stock Exchange has a stable financial situation, there are no signs of bankruptcy,” the publication is quoted in a statement from the trading platform.
The file does not contain information about creditors, in the column “Debtors” JSC “SPB Exchange” is indicated. No other details of the case are provided.
SPB Exchange became one of the organizations that joined the US sanctions list in early November. Getting on the US SDN list means isolation from the dollar system, freezing of assets and prohibition of cooperation with US companies.
Due to its inclusion in the sanctions list, SPB Exchange is forced to withdraw from the capital of the international platform TS in Kazakhstan, where it owns 10%. The platform also suspended trading in more than 2,000 foreign securities.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
