UCP Investment Group of Ilya Sherbovich exits from its investment in the Saint-Petersburg Exchange

UCP Strategic Development Ltd., a Cyprus based company owned by the former head of UFG Ilya Sherbovich, sold its investment in the Saint-Petersburg Exchange. The 5.22% stake was acquired by JSC Novaya Volna owned by Vadim Tyryshkin, according to RIA Novosti news report quoting the press-service of NP RTS, the main shareholder of the Saint-Petersburg Exchange.

According to disclosure by the Saint-Petersburg Exchange, UCP Strategic Development Ltd. sold 110,000 shares representing a voting stake of 5.22% to JSC Novaya Volna.

Ilya Sherbovich has confirmed to RIA Novosti that UCP Strategic Development Ltd. has exited from its investment in the Saint-Petersburg Exchange.

"It was a relatively small portfolio investment for UCP. We sold it and are satisfied with the results of our investment. We wish management and shareholders of the Saint-Petersburg Exchange to continue its successful development," Irina Lanina, managing director of UCP Investment Group, told RIA Novosti.

UCP acquired 9.97% of common stock of the Saint-Petersburg Stock Exchange in early 2011. Later, at the beginning of 2013, according to the disclosure, UCP Industrial Holding Ltd. owned 7% of its charter capital.

PJSC Saint-Petersburg Exchange is one of the oldest Russian trading platforms for trading in securities and futures contracts. It 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.