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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Russian energy giant Lukoil(LUKOY) has announced plans to terminate its ADR program. In addition, the firm will also cancel its listing on the London Stock Exchange as well effective June 6, 2022. This is a big blow for American and foreign investors in Lukoil. However this is not a surprise since Russian passed a law in …
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The wild ride for the holders of Russian ADRs continues it many twist and turns. The latest update concerns around the decree signed by President Vladimir Putin on April 16 that requires Russian companies to remove their listings from overseas equity markets. This effectively means the cancellation of Depository Receipt Programs of Russian companies trading …
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Russia is one of the world’s major oil producers and exporters. Much of Europe including the economic engine Germany depend on Russian oil. Among the emerging markets China is a major consumer of Russian oil. The following infographic shows additional insights on the dependency of other countries for crude oil from Russia: Click to enlarge …
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BNY Mellon, the depository for many Russian ADRs and other depository programs has offered to exchange ADRs for ordinary shares that trade on the Moscow Stock Exchange for a select group of companies. With this program, ADR holders can convert their ADRs to ordinary shares. Trading of all companies started on the local exchange this …
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