The reorganization of Univer Capital will avoid, among other things, the bankruptcy of citizens and companies of medium and small businesses, the broker says in a letter to the regulator
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Brokerage company Univer Capital turned to the Russian Central Bank with a request for reorganization due to the problems that arose after the collapse of the Russian stock market at the end of February, follows from a letter from the chairman of the board of directors Maxim Kozhevnikov to the regulator (RBC has it).
“Given the current situation, (…) we ask you to reorganize Univer Capital LLC. Participants of Univer Capital LLC are ready
transfer their shares in the company, operational management and operational management free of charge to the Bank of Russia or a financial institution authorized by the Bank of Russia to carry out the procedure for the financial recovery of the company, ”the text says.
The reorganization of Univer Capital will help avoid the loss of licenses by professional participants in the securities market, the default of bond issuers, the bankruptcy of citizens and small and medium-sized businesses, Kozhevnikov argues.
The letter notes that on February 24 there was a record collapse in the Russian stock market, the Moscow Exchange and RTS indices lost more than half of their values from the level of February 21 and reached multi-year lows. On February 25, all assets of Univer Capital clients on the general trading section of the Moscow Exchange were blocked, and the broker itself lost the ability to independently enter into REPO transactions.
On March 22, Univer Capital announced the forced sale of federal loan bonds (OFZ) belonging to it, which was carried out by the National Clearing Center (NCC, a structure of the Moscow Exchange, acts as a central counterparty). The papers were sold at a discrete auction at a lower price than that formed at the auction in the usual mode, which began on the afternoon of March 21, the company said in a letter to clients.