Russian ADRs: Automatic Conversions Update

BNY Mellon, the depository for many Russian DR programs has posted an update on the automatic conversion of Russian ADRs and GDRs to the ordinary shares trading on the local market. This update provides answers to some of the questions that owners of Russian ADRs may have. The automatic conversion starts from 8/31/22 to 9/6/22 …

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Update to Automatic Conversion of Russian ADRs

The saga with Russian DR programs continues to evolve. I posted a note on Automatic and Forced Cancellation as notified by the depository BNY Mellon on mid-last month. Today BNY Mellon has published the below important update on the automatic conversion of Russian ADRs. As the deadline nears for the cancellation of these ADRs, many …

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Russia’s Gazprom To Terminate ADR Program

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 …

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