Shares of Untied Credit Systems soar 40% more on Moscow Exchange

MOSCOW, Feb 25 (PRIME) -- The share price of United Credit Systems (Obyedinennye Kreditnye Sistemy, OKS) jumped by 39.88% to 55,490 rubles per share on the Moscow Exchange as of 11.30 a.m. Moscow time on Monday, according to the bourse.

As a result, capitalization of United Credit Systems exceeded 1.3 trillion rubles, topping

capitalization of oil companies Surgutneftegas and Gazprom Neft, steelmaker Novolipetsk Steel (NLMK), and internet giant Yandex.

On February 23, a representative of private pension fund Blagosostoyaniye told PRIME that the fund planned to request information about a market participant who caused a sudden price jump of the shares of United Credit Systems. After February 6, the trade volume in the shares soared and the price jumped to 39,670 rubles as of February 22 from 740 rubles on February 6.

A central bank’s spokesman told PRIME on Monday that the regulator tracks the exchange trade, and it would analyze the situation if there are drastic changes in share prices or in trade volumes seeking signs of manipulation and insider trading.

(65.5149 rubles – U.S. $1)

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