Shares in Russian real estate investor Raven Property Group dropped by a further third today (15 March) after it emerged that the company is set to be removed from the FTSE index. The stock dropped to an all-time low of 3.9p.
The company is one of four – alongside Evraz, Petropavlovsk and Polymetal – that will be removed as Russia’s war in Ukraine continues.
FTSE Russell said it was responding to feedback from its external advisory committees and a range of market participants.
It added that it has been told that the ability to buy or sell shares in the companies was “severely restricted due to major international brokerage firms no longer supporting trading of these securities and therefore there is insufficient institutional liquidity and market depth”.
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