Russian energy giant Gazprom has decided to terminate its ADR program. According to the depository BNY Mellon the ADR program will be terminated June 16, 2022. Holders of the ADRs have the option to convert them to ordinary shares that trade on the domestic exchange in Russia or surrender the ADRs to receive payment of sale proceeds. Gazprom used to trade on the OTC markets under the ticker OGZPY.
Below is the termination notice from BNY Mellon:
Click to enlarge
Source: BNY Mellon
Gazprom Related Useful Links:
- Gazprom Neft to end ADR program on June 16 – depositary, Interfax
- How to convert Gazprom ADRs and other Russian DRs to local shares, The Long Run Plan
- GAZPROM & CO: WHAT TO DO WITH RUSSIAN ADRS?, Undervalued Shares
- Gazprom – Realtime Stock Quote on Moscow Exchange, Reuters
Related Posts:
- Russia’s Lukoil To Terminate ADR Program
- Some Russian ADRs Can Be Converted To Ordinary Shares Now
- Trading of Russian Companies on US Stock Exchanges Halted
- An Update on Russian ADRs
Disclosure: No positions
This is outright confiscation of our shares
Not exactly confiscation but something like that. This was one of the risks with investing in Russia. You may want to check out:
https://longrunplan.com/2022/05/16/how-to-convert-gazprom-adrs-and-other-russian-drs-to-local-shares/
Good Luck !