Eurotrans shares fell more than 20% after all Trassa gas stations were shut down

Quotes collapsed, trading was suspended

Shares of Eurotrans, the operator of the Trassa gas station chain in Moscow and the Moscow region, continued to fall sharply on the Moscow Exchange on November 9. By 09:06 Moscow time, the price of one share had dropped by 24.3% — to 16.2 rubles, after which trading was switched to a discrete auction mode, which ran from 09:10 to 09:40 Moscow time. After it ended, the decline slowed: at 09:42 Moscow time the shares were worth 16.65 rubles, down 20.53%. This is evidenced by data from the trading platform, which Life.ru references.

What is behind the collapse

The reason for the sharp drop in quotes was the shutdown of the entire network: all 53 Trassa gas stations in the region stopped serving customers. The company's financial problems began earlier — at the end of August, the Moscow Regional Office of the Federal Antimonopoly Service identified signs of monopolistically high prices for gasoline and diesel fuel. In addition, an arbitration court was asked to declare Eurotrans bankrupt; the hearing of the petition is scheduled for November 12.

The scale of the network's crisis

Life.ru previously reported on the closure of all 53 gas stations of the Trassa chain in the Moscow region. According to the outlet, the chain's owner, Eurotrans, faces bankruptcy amid multibillion-dollar debts and difficulties servicing its obligations. The lessor, Gazprombank Leasing, has begun seizing all 57 filling complexes, and about 1,400 company employees have been placed on forced idle time. In the first stage of the crisis, the outlet notes, the company's shares fell by 12% — meaning that the November 9 collapse of more than 20% signaled an intensification of the decline in quotes.