Advertisement
Advertisement

Russia’s Sberbank plans to drop its London listing

By:
Reuters
Published: May 17, 2022, 18:37 UTC

(Reuters) - Russia's largest lender Sberbank, which has been hit by Western sanctions, plans to drop its listing in London after its depositary terminated an agreement with it, the bank said on Tuesday.

The logo is on display in an office of Sberbank in Saint Petersburg

(Reuters) – Russia’s largest lender Sberbank, which has been hit by Western sanctions, plans to drop its listing in London after its depositary terminated an agreement with it, the bank said on Tuesday.

Holders of Sberbank’s depositary receipts can exchange them for Sberbank’s shares by June 16, the bank said in a statement, adding that it notified the London Stock Exchange of its intention to terminate the circulation of the receipts.

(Reporting by Reuters)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Did you find this article useful?

Advertisement