The “Mother and Child” network of clinics will be delisted from the London Stock Exchange. The last trading day will be June 21, after which trading will continue on the Moscow Stock Exchange.
MD Medical Group, which develops the “Mother and Child” network of medical clinics, explained this decision “by the prolonged suspension of the listing of the company’s Global Depository Receipts (GDR) on the London Stock Exchange and, in consequently, the inability of investors to trade securities on the stock market”.
The Group sent a corresponding request to the UK Financial Conduct Authority, as well as a request to the LSE to cancel the listing of receipts on the site’s main market.
Trading in the group’s securities will continue on the Moscow Stock Exchange from June 22.
“The rights of GDR holders to this security are fully preserved,” the organization said in a statement.
Founder Mark Kurtzer owns 67.9% of the company’s shares through MD Medical Holding Limited. Another 32.1% are in free circulation.
The initial public offering of shares of the MD Medical Group network management company on the London Stock Exchange took place in 2012. GDRs have been traded on the Moscow Stock Exchange since 2020.
“Mother and Child” was included in the Forbes rating “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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