Moscow Exchange launches discrete auction on LSR shares after 30% growth

The Moscow Exchange has launched a discrete auction for shares of the developer LSR (LSRG). The auction will be held from 12:02 to 12:32 MSK. “There was an increase of 20% or more for five consecutive minutes of the current share price from the closing price of the previous trading day (.661),” the site said.

Shares of the developer LSR at auction on Wednesday, October 28, jumped by 32.86% and reached a maximum of 879.8 per share. This is evidenced by the trading data of the Moscow Exchange at 11:52 MSK.

Discrete auction is a special mechanism by which the Moscow Exchange reduces volatility in the market. The exchange collects bidders for the purchase and sale of shares in a glass. It is used instead of the usual trading regime when the share price changes from the closing price of the main session of the previous day by more than 20% for five consecutive minutes. The discrete auction session consists of three auctions of ten minutes each. After 30 minutes after the start of the auction, the auction resumes as usual.

LSR Group is engaged in the production of building materials, construction and development. The development business of the group is represented in St. Petersburg, Moscow, Yekaterinburg and the Leningrad region. According to reports, the net loss for six months under IFRS increased 23 times and reached о57.6 billion. The company's revenue grew by 0.7%, to 97.1 billion.

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