VK reported on the completion of the procedure to change the depositary bank of the company’s global depository receipt (GDR) program. This is stated in the corporation’s message.

VK has completed the change of the depositary bank of its receipt program

RCS Issuer Services S.AR.L. became the new depositary, the corresponding agreement begins to operate on September 18. Against the background of the company’s announcement, VK’s revenue during trading on the Moscow Stock Exchange increased in price by 3.07% to 665 rubles, Vedomosti noted.

Previously, the Company’s depositary bank was Citibank, NA. As VK points out, GDR holders are not required to take any action regarding the changes.

On September 12, the company delisted from the London Stock Exchange (LSE) and stopped trading its receipts. The company’s shareholders and board of directors approved the corresponding decision a month earlier.

At the same time, redomiciliation was approved, the corporation “moved” from the British Virgin Islands to Russia. VK also announced plans to issue replacement bonds.


Natalia Gormaleva

Source: RB

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