Shocking Decline: Rusagro Shares Tumble Amid Founder’s Detention

Rusagro, a top Russian producer of sugar, meat, oil, and fat products, has seen its market value drop by nearly a third on the Moscow stock exchange following the detention of its billionaire founder, Vadim Moshkovich. The company's shares hit a new low after the news surfaced.

In a dramatic turn of events, Rusagro, one of Russia's premier producers of sugar, meat, oil, and fat products, has witnessed a staggering decline in its market value. The company's shares plummeted almost 32% on the Moscow stock exchange after news broke about the arrest of its billionaire founder, Vadim Moshkovich.

The shares fell to a concerning intra-day low of 156.32 roubles, sharply down from the opening value of 230.50 roubles on Wednesday. This sharp decline has sent ripples through the financial circles, prompting questions about the future impact on Rusagro's operations and its market position.

Authorities have charged Moshkovich, further adding to the company's woes. As developments unfold, market analysts continue to monitor the situation closely, anticipating potential ramifications on the broader market.

(With inputs from agencies.)