Southey Capital offers to buy shares in Russian railroad firm Globaltrans

Reuters04-08

* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, April 8 (Reuters) - Southey Capital, a capital markets firm specialising in...

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MOSCOW, April 8  - Southey Capital, a capital markets firm specialising in distressed and illiquid securities, said on Monday it was offering to buy shares in Russian railroad operator Globaltrans at a discount of around 20%.Western sanctions imposed in response to the conflict in Ukraine and subsequent Russian countermeasures have stranded assets in both Russia and the West.Globaltrans did not immediately respond to a request for comment on the offer by London-based Southey Capital.Southey Capital said it would pay $6.73 in cash for each security validly tendered over-the-counter .Trading of Globaltrans' shares in London was suspended shortly after Russia despatched its army to Ukraine in February 2022. In Moscow, its securities currently trade at 765 roubles  each.Southey Capital said it believed the offer would give holders without access to exchanges or OTC counterparties","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4566":"资本集团","BK4569":"俄罗斯概念","BK4514":"搜索引擎","LU0329931173.SGD":"汇丰俄罗斯股票基金CL AD SGD","BK4077":"互动媒体与服务","LU0329931173.USD":"HSBC GIF RUSSIA EQUITY \"AD\" (USD) INC"},"translate_title":"Southey Capital提议购买俄罗斯铁路公司Globaltrans的股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"YNDX":0.9},"content_text":"* \n This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine \n MOSCOW, April 8 (Reuters) - Southey Capital, a capital markets firm specialising in distressed and illiquid securities, said on Monday it was offering to buy shares in Russian railroad operator Globaltrans at a discount of around 20%. \n Western sanctions imposed in response to the conflict in Ukraine and subsequent Russian countermeasures have stranded assets in both Russia and the West. \n Globaltrans did not immediately respond to a request for comment on the offer by London-based Southey Capital. \n Southey Capital said it would pay $6.73 in cash for each security validly tendered over-the-counter (OTC). \n Trading of Globaltrans' shares in London was suspended shortly after Russia despatched its army to Ukraine in February 2022. In Moscow, its securities currently trade at 765 roubles ($8.26) each. \n Southey Capital said it believed the offer would give holders without access to exchanges or OTC counterparties the opportunity to realise liquidity before their investment may become stranded or expropriated. \n It has also offered to buy shares in Yandex N.V., the Dutch-registered holding company of Russian internet giant Yandex. A consortium of domestic investors agreed a $5.2-billion deal to buy Yandex's Russian business in February. \n In a shareholder circular in February, Yandex said it was not party to and had not authorised the Southey Capital offer. 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