O'Key Group could redomicile from Luxembourg to Russia

MOSCOW. March 4 (Interfax) - The board of directors of the O'Key Group (O'KEY Group S.A.) has decided to submit for shareholders' approval the matter of approving the company's redomiciliation from Luxembourg to Russia, the group said.

An extraordinary general meeting on the matter is scheduled for March 25.

It is expected that the company would be registered in the special administrative region on Oktyabrsky Island in the Kaliningrad Region as an international public joint-stock company (IPJSC) following approval and completion of the procedure.

The receipts of the Luxembourg holding company would be recognized as shares of the IPJSC at a 1:1 ratio following redomiciliation completion.

"The company must complete all actions required by law to terminate the company's activities in Luxembourg prior to completing the redomiciliation procedure. Possible redomiciliation deadlines will be announced additionally," the group said.

The O'Key Group manages hypermarkets of the same name and the Da! discounters, uniting 77 hypermarkets and 224 discounters at the end of 2024. O'Key trades on the Moscow Exchange and Kazakhstan's Astana International Exchange (AIX).