Court registers SPB Exchange motion, bourse denies filing for bankruptcy

MOSCOW, Nov 27 (PRIME) -- The Moscow Arbitration Court has registered an application of SPB Exchange on its own bankruptcy, as seen by PRIME on Monday from the information in the file of arbitration cases.

The application was received by the court on November 24, it has not been accepted for consideration yet.

SPB Exchange said in a statement that it has not filed for bankruptcy and has a stable financial condition.

“SPB Exchange has not filed for bankruptcy. SPB Exchange has a stable financial condition, there are no signs of bankruptcy,” the statement read.

The trading floor’s shares were falling by about 30% amid the bankruptcy filing, according to trading data on the Moscow Exchange.

The Moscow Exchange switched trading in the shares of the company into a discrete auction mode from 10:30 a.m. Moscow time. Resumption of normal trading is scheduled for 11:00 a.m.

The price of the shares fell by 21.45% to 78 rubles as of 10:26 a.m.

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