Private rail operator Globaltrans has completed its redomiciliation from Cyprus to the United Arab Emirates. The company re-registered in Abu Dhabi and announced its intention to continue trading on the Moscow Stock Exchange and the LSE. The company’s shares rose in price as a result of the news.
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The rail transport operator Globaltrans has completed the redomiciliation process, that is, reregistration of a company in another jurisdiction. This is stated in a message on the company’s website.
Previously, Globaltrans was registered in Cyprus, but now the company is under the jurisdiction of Abu Dhabi. The decision to redomicile was made in July 2023 at a shareholders meeting; in August of the same year, the company began the process of reregistering the business.
Globaltrans plans to maintain its listing on the Moscow and London stock exchanges. After the publication of the message, Globaltrans shares on the Moscow Stock Exchange rose by 3.9%.
In January 2024 it became known that the co-founders of Globaltrans sold their shares to the Kazakh company Aqniet Capital.
Author:
Kirill Bilyk
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.
