Sharp Rise in TGC-14 Shares Agitates Moscow Exchange

TGC-14 shares began to rise sharply, forcing the Moscow Exchange to suspend trading, as reported on January 27 on the T-Bank website in the investments section.

It was previously reported that shares of the energy company TGC-14 fell by 19.2% in 2025. At the beginning of the year, one TGC-14 share was worth 0.0085 rubles (approximately $0.0001 at current rates), and by December 1, its price was 0.0054 rubles (approximately $0.00006 at current rates).

The shares rose immediately by 23.03% — from 0.00621 rubles (about $0.00007 at current rates) to 0.00764 rubles (about $0.00008 at current rates) per share. A discrete auction to stabilize the price began at 12:49 Moscow time. Trading resumed at 13:19, after which the company«s shares corrected.

The website recalled that in December 2025, the ACRA agency (Analytical Credit Rating Agency) significantly lowered TGC-14«s credit rating — from BBB to BB on the national scale. Moreover, it assigned a negative outlook to the rating, indicating a possible further deterioration in assessment. TGC-14 shares have been in the news due to sharp declines in quotations. After the detention of the company»s board chairman Konstantin Lyulchev, shares fell by more than 5%, and bonds — by 5–16%.

TGC-14 is the leading producer and supplier of electrical and thermal energy in the Zabaykalsky Krai and the Republic of Buryatia. The enterprise provides thermal energy to over 500,000 residents, including in Chita and Ulan-Ude, and about 10,000 legal entities in the two regions. The company owns seven thermal power plants and two energy complexes. According to the Kontur.Focus system, TGC-14 reported a net profit of 1.6 billion rubles (approximately $17.8 million at current rates) for 2024. Currently, the company«s top management, including board chairman Konstantin Lyulchev and deputy chairman Viktor Myasnik, is under arrest in a pre-trial detention center. They are accused of fraud. Lyulchev and Myasnik were also co-owners of JSC DUK, which in 2021 bought a controlling stake in the generating company, borrowing money from the same company to repay a bank loan taken to purchase the enterprise.