- Rosneft made the GDR listing on the London Stock Exchange in 2006
According to TASS, Russia's state-owned news agency article published on October 18, 2022, Rosneft has sent a statement on delisting of global depositary receipts (GDR) to the London Stock Exchange and the regulator and expects it will come into force from November 14, the Russian oil major said on Monday.
The company "has applied today to the Financial Conduct Authority (FCA) and the London Stock Exchange (LSE) for cancellation of the listing of global depositary receipts (GDRs)," Rosneft said.
The decision followed the notice from the depository (J.P. Morgan Chase Bank) on termination of the deposit agreement on August 15 of this year, the company informed.
"Rosneft expects (but in no way guarantees or undertakes to ensure) that the cancellation of listing will become effective on November 14, 2022 at 8:00 a.m. London time. GDR holders are entitled to convert their securities into deposited shares of Rosneft in the respective amount in accordance with the procedures provided for in the Depository Agreement and the requirements of applicable Russian law," the company added.
Rosneft made the GDR listing on the London Stock Exchange in 2006.
