"Corporate currency": PJSC shares as a means of payment under a contract
November, 2025 | Published
Authors: Berezina Yulia, Martemyanov Dmitry, Nurusheva Albina
When structuring large transactions, buyers often face commercial difficulties such as insufficient cash.
A possible solution – in addition to loans, commercial credit, or installment payments (which may be unacceptable to the parties) – is to use non-cash consideration, namely other securities, including shares of public joint-stock companies (“PJSC”). In such a structure, the shares function as a form of “corporate currency” – an economic equivalent of monetary performance based on the transfer of a liquid asset instead of cash.
A possible solution – in addition to loans, commercial credit, or installment payments (which may be unacceptable to the parties) – is to use non-cash consideration, namely other securities, including shares of public joint-stock companies (“PJSC”). In such a structure, the shares function as a form of “corporate currency” – an economic equivalent of monetary performance based on the transfer of a liquid asset instead of cash.
