UCP Strategic Development Ltd., a Cyprus based company of UCP Investment Group, sold its stake in the Saint-Petersburg Exchange. The Saint-Petersburg Exchange has announced that on 14 November 2017 UCP Strategic Development Ltd. has sold its 110,000 shares, representing 5.22%, to JSC Novaya Volna.
Irina Lanina, a managing director of UCP Investment Group commented: “It was a relatively small portfolio investment for UCP. We are satisfied with the results of our investment. We wish management and shareholders of the Saint-Petersburg Exchange a success in its further development”.
Saint-Petersburg Exchange is one of the oldest platforms in Russia for trading in securities and futures contracts. The Exchange specializes in securities and commodities trading and also provides repository services, such as registration of repurchase agreements, derivative contracts and other types of OTC contracts.
UCP Investment Group is one of the largest financial investment groups in Russia established in 2006 by Ilya Sherbovich and partners to manage their own assets and those of their co-investors. Mr. Sherbovich is the firm’s beneficial owner controlling a stake of over 70%. Assets under UCP management currently exceed three billion US dollars.
SOURCE: UCP Strategic Development Ltd.
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