By KYIV. Dec 28 (Interfax-Ukraine) – The price of shares of Ferrexpo plc mining company two hours after the news of the detention of the beneficiary of the company, Kostiantyn Zhevaho, in Courchevel for subsequent extradition to Ukraine on the London Stock Exchange fell by 3.3%, or 5.7 pence, to 167.2 pence per share.
According to information on the exchange’s website, immediately after the release of the news, the shares fell in price by 4.4 pence, after which they recovered slightly.
Then the fall continued again to the level of 166.1 pence, from which it recovered to 167.2 pence at 12:38 London time.
Over the past 52 weeks, Ferrexpo’s share price has also fallen further to 96 pence amid news of a halt in production due to power supply problems caused by Russian shelling of energy infrastructure, as well as taking into account the general global situation in the iron ore market.
Quotes reacted weakly to the news about searches at the company’s enterprises in Poltava region on charges of understating the royalty for the use of subsoil by UAH 10 billion, remaining at the level of about 142-143 pence.
However, in general, Ferrexpo fell by 44% over the year, including 32.5% since the beginning of the war.
"Today, at the request of investigators from the State Bureau of Investigation (SBI), Kostiantyn Zhevaho has been detained in Courchevel. You know that he is a defendant in several criminal proceedings at the SBI. Documents for extradition are being prepared now," the adviser for communications at the State Bureau of Investigation, Tetiana Sapyan, said on the air of the Ukrainian telethon earlier on Wednesday.
