Moscow Exchange is transferring 'Lenta' shares from the first to the…
Moscow Exchange is transferring 'Lenta' shares from the first to the third listing level, and 'Far Eastern Sea Shipping Company' (FESSC) shares from the second to the third level, starting August 12.
Consensus
- Moscow Exchange will downgrade the listing level of Lenta and DVMPO shares to the third level starting August 12.
- The downgrade is due to non-compliance with corporate governance requirements by the issuers.
- The decision follows the expiration of a deadline established by the Board of Directors of the Central Bank of России on June 30, 2024.
- Lenta is one of Russia's largest retail chains, founded in 1993 in Saint Petersburg.
- DVMPO is the parent company of the Russian transport group FESCO, operating in the Pacific, Atlantic, and Arctic Oceans.
Points of divergence
- The price of Lenta shares fell by 5.03% on July 10, closing at 1626 rubles. — vedomosti
- Fix Price announced in May the suspension of its plans to consolidate shares, citing the need to protect shareholder interests and maintain the first-level listing on Moscow Exchange. — vedomosti
- Lenta operated 268 hypermarkets, 353 supermarkets, 3,400 home stores, and over 1,700 drugstores with a total trading area of 2.8 million square meters by mid-2025. — kommersant
- DVMPO's history dates back to the 1880s. — kommersant
Coverage (2 sources)
- Moscow Exchange to transfer shares of "Lenta" and DVMP to the third level of listing — Ведомости
- Moscow Exchange to lower listing level of 'Lenta' and DVMP stocks from August 12 — Коммерсантъ
Key entities
- Lenta
- DVMPP
- Rubio Index Moscow Exchange
- Russia
- Bank of Russia
- Moscow Exchange
- Moscow Exchange (MOEX)
- MKPAO Lenta