ТАСС
Russian companies must revoke foreign listings by May 5, central bank says
reuters.com: Companies that are registered in Russia and have depositary receipts traded on foreign bourses must revoke them by May 5, the central bank said on Tuesday.
Russian President Vladimir Putin on Saturday signed into law a bill requiring Russian companies to delist their depositary receipts from international bourses and convert them into local securities in a bid to reduce foreigners' control over these firms.
Sign up for Breaking News
Get notifications
"Russian issuers are required to take actions by May 5, 2022, to terminate the agreements in accordance with which the placement of securities under foreign law was carried out, as well as to terminate the depositary receipts programmes," the central bank said.
The order does not affect companies with Russian roots that have carried out initial public offerings (IPOs) on foreign exchanges, such as Yandex or TCS Group.
Several major Russian companies have listings abroad, which has always been a matter of prestige for them. But since Russia began what it calls a "special military operation" in Ukraine on Feb. 24, Western bourses have halted trading of Russian securities.
Hydropower group EN+ and energy firm Tatneft on Tuesday became the first Russian companies to start the process of delisting their depository receipts (GDRs) from foreign exchanges after the orders from Moscow over the weekend.
The central bank said last month Russian stock exchanges would keep listings of securities of foreign companies with Russian roots even if they delist from foreign bourses.
-
- In World
- 19 April 2022 22:53
In World
-
European powers, including Britain, France and Germany, said on Wednesday they had to be part of any future negotiations on the fate of Ukraine, underscoring that only a fair accord with security guarantees would ensure lasting peace.
-
The amount of Russian and Iranian oil held on ships has hit multi-month highs as harsher U.S. sanctions reduced the number of buyers, leaving fewer tankers available to deliver cargoes and driving up crude costs, trade sources and analysts said.
-
Russia's President Vladimir Putin held a phone call with Syria's interim leader Ahmed al-Sharaa, the Kremlin said on Wednesday, the first direct communication between the two since Sharaa's forces overthrew Moscow's ally Bashar al-Assad in December.
-
A senior official in Ukraine’s anti-terrorist centre has been arrested on suspicion of spying for Russia, say security chiefs.
Leave a review