Eurotrans shares plunge after top execs arrested
The shares of PJSC Eurotrans dropped by 6-12% following the arrest of its CEO and other top executives, amid a criminal investigation into the theft of fuel intended for the Moscow region's police department. Several company officials and police officers were detained and dismissed from service.
Consensus
- The shares of PJSC Eurotrans declined significantly on the Moscow Exchange.
- The arrest of top executives of Eurotrans was linked to a criminal investigation into the theft of motor fuel intended for the Moscow region's Ministry of Internal Affairs (MVD).
- The investigation involves both Eurotrans officials and police officers from the Moscow region's MVD.
- Several individuals, including the CEO and top managers of Eurotrans, were arrested or detained.
- The involved police officers were dismissed from their positions in the MVD.
- The official representative of the MVD confirmed the arrests and dismissals.
Points of divergence
- The CEO of Eurotrans, Oleg Alexeev, was arrested on September 9, and the share price dropped by 12% within 1.5 hours of trading. — vedomosti
- The share price dropped by 6% on September 7, and the trading volume was very low (25.3 million rubles by 15:05). — interfax
- The share price dropped by 6.1% at the market low, reaching 28.5 rubles per share, and later corrected to 28.85 rubles. — kommersant
- Eurotrans had experienced technical defaults on all ten bond issues, with the first actual default confirmed on August 5, and all bonds were transferred to special status by August 6. — interfax
- The arrest of Oleg Alexeev and other executives occurred on September 9, with the Moscow City Court sending them to custody. — vedomosti
- Three top managers of Eurotrans were already in custody before the public announcement. — interfax
Coverage (5 sources)
- Shares of Eurotrans plunged another 12% — Ведомости
- Shares of Eurotrans continue to fall amid arrests — Ведомости
- Eurotrans shares fell amid news of top managers' detention — Ведомости
- Shares of PJSC EuroTrans fell 6% on news of the detention of the chairman of the SD and three top managers — Интерфакс
- Eurotrans shares fell 6% on news of top managers' detention — Коммерсантъ
Key entities
- Eurotransa
- PJSC Eurotrans
- Oleg Alexeyev
- Moscow
- MVD
- Moscow Exchange
- Meshchansky District Court
- PJSC Eurotrans
- INTERFAX.RU
- Russia
- Moscow Exchange
- RBC
- SD
- Igor Martynov
- Igor Martyshev
More on Oleg Alexeyev
- Mosoblast Court Upholds Arrest of Evrotrans Executives
- Executives of 'Evrotrans' Arrested in Fuel Theft Case
More on Igor Martynov
- MVD General, Fuel Execs Arrested in Fuel Theft Case
- Former MVD Deputy Arrested in 500M Ruble Fuel Theft