The Moscow Stock Exchange has listed shares of PJSC Corporate Center X 5 in the first trading level. The decision on this was made on July 22, 2024, the site said in a statement.
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MosExchange listed shares of asset management company X5 on the first trading level
Previously, X5 Group, which operates the Pyaterochka, Perekrestok and Chizhik retail chains, transformed LLC Corporate Center ICS 5 into a public joint-stock company – PJSC Corporate Center ICS 5.
The changes were made in connection with the requirements of the Russian law on the specifics of regulating corporate relations in economically important companies.
- In March, the Ministry of Industry and Trade asked the Court of Arbitration to suspend the corporate rights of Dutch X5 Retail Group NV in relation to its Russian subsidiary. It was reported that X5 Retail Group NV’s ownership of a stake in the Russian X5 Group creates risks of harm to the X5 division in Russia.
- On May 3, the court decided to suspend the corporate rights of X5 Retail Group NV in relation to LLC “Corporate Center ICS 5”.
- In July, the Moscow Arbitration Court of Appeal rejected Dutch company X5 Retail Group NV’s appeal against the deprivation of its corporate rights in relation to its Russian subsidiary.
Author:
Karina Pardaeva
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.
