London Stock Exchange Welcomes Sberbank of Russia
- Russia’s largest credit institution admits unlisted ADRs
- Sberbank will become the 54th Russian company on the International Order Book
London Stock Exchange (LSE) today welcomes to trading Sberbank – the largest credit institution in Russia and CIS. The company has admitted unlisted, sponsored level 1 ADRs to trading though the LSE’s Admission to Trading Only facility and they will be traded on the International Order Book. The underlying shares are listed on MICEX, the Russian stock exchange.
Sberbank has a market capitalisation of £47 billion. The company will be admitting 1 349 184 250 ADRs, each representing 4 ordinary shares.
Sberbank will be included in the FTSE Russia IOB index effective from the start of trading on 4 July 2011.
Tracey Pierce, Director of Primary Equity Markets at London Stock Exchange Group said:
“We are delighted to welcome Sberbank to trading. As Russia’s largest bank, it will take its place alongside a group of global peers and over 50 other Russian companies trading on the IOB.
Companies want to access the markets in different ways and Sberbank’s admission will give it the opportunity to raise its profile in London whilst benefitting from the liquidity that our International Order Book can provide.”
‘Admission to Trading Only’ refers to securities which are not listed in London or passported on to the Exchange’s regulated markets (the Main Market and the Specialist Fund Market). Companies are required to comply with the London Stock Exchange's Admission and Disclosure Standards and, as appropriate, comply with the standards of any other exchange where these securities are listed. This facility is designed to be used by companies as a first step towards a full listing.
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Notes to editors:
Admission to Trading Only:
Further information can be found at: www.londonstockexchange.com/companies-and-advisors/listing/admission-to-trading/admission-to-trading.htm
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