Uncertainty rules business on the stock exchange.

The more unpredictable the future, the more is required for the risk.

However, uncertainty can also be accompanied by large discounts.

If a country or a company is about to collapse, even selling it for small amounts could suddenly become attractive.

With this calculation, purchase offers have been sent to owners of Russian securities in the past few weeks.

Antonia Mannweiler

Editor in Business.

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Offers for shares in Gazprom, Lukoil or Rosneft fluttered into the mailbox via custodian banks such as Deutsche Bank.

Shares that have not been tradable in Germany for a few weeks.

Whether such offers are the last chance to part without a total loss from the stocks, the prices of which have fallen by up to 40 percent since the beginning of the war?

The total loss no longer threatens if the offer is accepted – but that's about it.

A few months before the start of Russia's war of aggression in Ukraine, Gazprom shares were trading at more than five dollars.

Investors were now offered cent amounts for this.

Trimax Capital offered two cents, Mufasa GmbH offered twice as much, and a third provider wanted to put 15 cents on the table.

The picture of the greedy hedge fund could not be confirmed

On the Moscow stock exchange, Gazprom shares are currently being traded for the equivalent of more than three dollars.

In Internet forums, the reactions to the purchase offers were not very euphoric.

"Honestly, who is so stupid as to sell them for two cents?

That's a joke.

It's better not to sell at all," was one comment.

But who is actually behind the purchase offers?

Dubious companies with no morals, nasty hedge funds or simply stockbrokers who see an opportunity for returns?

The FAZ spoke to some providers.

The image of the greedy hedge fund could at least not be confirmed.

Daniels Invest GmbH from Berlin submitted a purchase offer to investors for 19 Russian securities such as shares in Gazprom, Nornickel or Rosneft.

The company would have paid 25 cents for Gazprom, 75 cents for Nornickel and just one cent for the now sanctioned Sberbank.

In the Federal Gazette, in which the offers are published, the provider writes right at the beginning that after Russia's illegal attack on Ukraine, the question arises as to whether a purchase of Russian shares is morally justified.

He explains that through the purchase or sale, no money flows to the respective stock corporation, not even to the Russian state, but exclusively from buyer to seller.

"The requester wants to support peace in Europe and therefore gives the undertaking that capital subscription rights from Russian shares will not be exercised as long as Russia continues to endanger the peace of Europe." declare war.

And he will donate half of the possible profit to the post-war reconstruction of Ukraine.

Of course, this cannot be proven.