MOSCOW, October 24. /TASS/. The holders of foreign securities that have been blocked, will be able to trade some of their assets starting October 31, 2022, as SPB Exchange has reached an agreement with a foreign investor on the swap of securities worth $312 mln, according to a statement released by the exchange on Monday.
"SPB Exchange has reached an agreement with a foreign institutional investor for the transfer of certain securities to trading divisions from non-trading ones. The investor will swap his freely tradable foreign securities, which do not have the National Settlement Depository in their rights register chain, inside SPB Bank (clearing depositary of the exchange - TASS) for an equal number of securities of the same issuers, which are in the non-trading divisions of trading participants and whose rights register chain includes the National Settlement Depository," the statement said.
Consequently, securities of 680 companies will be unblocked, among them are Apple, Chevron, Cisco, Coca-Cola, Dell, Domino’s Pizza, Ford, Johnson & Johnson, Microsoft, Moderna, NIKE, Pfizer, Virgin Galactic, Visa and many others.
No discounts are expected during the swap procedure since the operations are depositary and not sale transactions, the exchange noted, adding that foreign securities will transfer to trading divisions automatically without additional costs and actions of investors.
Earlier, Chief Executive Officer of the St. Petersburg Exchange Roman Goryunov said the agreement covered around 10% of assets affected by the block.