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VK depository receipts up more than 4% on Moscow Exchange

The board of directors of VK has approved the potential re-domiciliation to Russia from the British Virgin Islands, in which case the company would become an international public company

MOSCOW, February 14. /TASS/. Depository receipts of VK rose by more than 4% during Tuesday trading on Moscow Exchange following the company’s announcement on its potential re-domiciliation to Russia from the British Virgin Islands, according to trading data.

As of 10:02 a.m. Moscow time, depository receipts were up by 4.68% at 505 rubles per receipt. By 10:20 a.m. depository receipts narrowed gains to 3.98% trading at 501.6 rubles per receipt.

The board of directors of VK has approved the potential re-domiciliation to Russia from the British Virgin Islands, in which case the company would become an international public company. It will be able to continue operating as a legal entity in Russia, the company said.

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