MD Medical Group Investments Plc (MDMG), which manages the network of maternal and child clinics, submitted a GDR (global depositary receipts) prospectus to the Central Bank to obtain a primary listing on the Moscow Stock Exchange. This is reported on the company’s website. Amid this news, the company’s shares rose 5.54%.
Previously, the company’s shareholders approved the redomiciliation from Cyprus to Russia.
MDMG was primarily listed on the London Stock Exchange (LSE) in 2012, and in 2020 the organization’s RDAs are traded on the main market of the Moscow Stock Exchange and are included in the top-tier listing list.
In summer 2023, MDMG ceased trading on the LSE and the last day of trading was 21 June. Operations on the Moscow Stock Exchange remained the same.
The company explained the decision to list on the LSE by “the long-term suspension of trading in the company’s global depositary receipts on the London Stock Exchange and, as a result, the inability of investors to trade securities” .
The press service clarified that the procedure for changing the listing status on the Moscow Stock Exchange does not provide for any actions for GDR holders.
The network of medical clinics “Mother and Child” entered the Forbes ranking of the “20 largest medical companies – 2022” and took third place with revenue of 22.25 billion rubles.
Author:
Natalia Gormaleva
Source: RB
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