Raven Property Group will be removed from the FTSE index next week after brokers baulked at dealing with the Russian-focused property group.
Raven, which owns more than 20m sqft of Russian property, finds itself on a list of four firms – along with Evraz, Petropavlovsk and Polymetal – that will be deleted following Russia’s invasion of Ukraine.
FTSE Russell, the division of the London Stock Exchange Group that provides the benchmark indices, said it was responding to feedback from its external advisory committees and a range of market participants.
Russell said it had been told that the ability to buy or sell shares in the four companies had been “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”.
