ICD will be able to conduct transactions with shares owned by British Sova Capital // Putin allowed ICD transactions with British Sova Capital shares

The Moscow Credit Bank will be able to conduct transactions with shares of Russian companies owned by the British investment company Sova Capital Limited. These transactions entail the establishment, modification, termination or encumbrance of ownership rights of certain securities. This order was signed on September 28 by Russian President Vladimir Putin.

The document states that the measures were taken in connection with the unfriendly actions of certain foreign states and international organizations. The list of joint stock companies includes 34 organizations. Among them are Rosseti (1.048 billion shares), Gazprom (2.7 million shares), Mosenergo (1.078 million shares), ALROSA (138.5 thousand shares).

Sova Capital Limited was established in 2007. The company is registered in England and Wales and does not have a Russian license. In early 2018, under the old name Otkritie Capital International Limited, it was acquired from Otkritie Holding by a subsidiary of the Cyprus company of the Rossium concern Roman Avdeev. The amount of the transaction amounted to 18.97 billion rubles, Kommersant wrote.

In 2022, Sova Capital Limited introduced a special management regime due to liquidity problems. Two years later, Mr. Avdeev transferred his stake in the Rossium concern to the structures of Sergei Sudarikov and completely withdrew from Russian projects and assets.