RUSNANO Kommersant

The Moscow Stock Exchange suspended trading of all Rosnano bonds on Friday evening due to the inability to pay debts. The total amount of the issue is 70 billion rubles. In addition, this is a quasi-default of the state. RUSNANO is nothing else but a state corporation. Many holders were hoping for help from the authorities, but alas... Investors were shocked by the rumors about a possible default of Rusnano; it was impossible to sell its bonds as early as Friday. The holding company has nothing to pay. Rosnano is bankrupt. The story of late Putin's breakthrough developments ended as it should have. Bankruptcy. So far, only the bankruptcy of Chubais' brainchild. State corporation Rosnano on Friday night held a meeting with major holders of its bonds. Judging by the official report, it was about restructuring the debt. At the same time trading of securities was stopped without any explanation. According to estimates of market experts, investors have "hung" bonds of all issues of "Rosnano" for a total of about 70 billion rubles. As traders note, a press release about the meeting of the company's management with investors was disseminated after trading had been suspended. There were no comments from the Moscow Exchange or the company about the suspension and its duration. Investors' blogs are discussing the prediction of a sharp change in bond prices on Monday - in case trading on them is resumed. "The agenda included a discussion of the Company's financial results and possible restructuring scenarios for the benefit of creditors. It was stated that the accumulated disproportionate debt and the Company's current financial model require adjustments. It is now possible to work out compromise options for the development of the situation, which will avoid the most negative scenarios," the company said in a statement. So far Russian state-owned companies have never announced a default on their obligations, and investors' faith in the state support of Rusnano makes experts consider such a scenario unlikely this time as well. However, at the end of 2020, Rosnano showed a loss of 52.9 billion rubles. According to the consolidated statements under IFRS, the value of assets for the year fell by more than half: from 137 to 69 billion rubles. Last December, Anatoly Chubais, who had been at the head of the corporation since 2008, stepped down and was replaced by Sergey Kulikov, a graduate of Rostec. The problem is that this is not the bankruptcy of RUSNANO. It is the bankruptcy of the management system under the late Putin. The idea of Chubais' RUSNANO initially had no economic sense. It is impossible to develop any knowledge-intensive production in a country where the state has not created any conditions for this and there are no economic prerequisites. In the oil bantustan all sorts of Skolkovo and Rusnano are simply alien organisms. And they may exist only as long as the state allocates money for their existence. For they themselves are deeply unprofitable, and no one needs their development. All of their development is a mishmash, not worth the cost of an egg. If you remember what RUSNANO has produced since its inception, you can't name anything. I will help you. August 18, 2011. At a meeting with Vladimir Putin, Anatoly Chubais presented the prime minister with a tablet computer, "capable of replacing an entire set of textbooks for all disciplines. The lightweight and vandal-resistant tablet is based on "non-silicon electronics" and will cost about 12 thousand rubles. And he asked Putin for 150 million rubles for its development and implementation. The whole of China laughed for a week. In the end, no tablet appeared and no money was left. Rosnano has not distinguished itself in any other way. But you can search for info about other similar developments of Putin's new bicycle inventors, the swindlers, which ended up exactly the same way. All sorts of miracle "get lost in the taiga" smartphones, super-powerful Russian Graviton laptops from covid Wuhan, YOB - mobiles and other other bullshit. People just don't understand that their supposedly breakthrough developments are meaningless in a country where the main branch of the economy is to get something out of the ground and sell it to the West. Well now it looks like the end of all this bullshit. I guarantee that Rosnano will be followed by Medvedev's Skolkovo. And so it should be. When the food chain is shrinking, all sorts of nonsense, handicrafts invented to show off the dust in their eyes, die first. And the people who invested in this fucking circus are simply pitiable. In human terms, I pity them. They did not even have the sense to look through an old history book and find out what happened to their predecessors. The same mother's "investors" in chimeras. Good luck to them.