Trading ceases in Globaltrans GDRs in T+1 mode on Moscow Exchange
MOSCOW. Oct 21 (Interfax) - Trading has ceased in the GDRs of Globaltrans Investment Plc in the T+1 mode on the Moscow Exchange on Monday in line with the upcoming delisting of GDRs from the MOEX on November 12, the rail haulage company said.
Holders of GDRs will not be able to effect GDR purchase and sale transactions on organized trades of the Moscow Exchange starting on October 21. However, holders of GDRs may still sell their respective GDRs by participating in the tender offer until November 6, inclusive, Globaltrans said.
As reported, Globaltrans' board of directors on September 13 approved the listing of the company's GDRs on the Astana International Exchange (AIX) and the voluntary delisting of GDRs from the London Stock Exchange, the Moscow Exchange, and the SPB Exchange, respectively.
The AIX is expected to become the sole trading platform for the company's GDRs after delisting from the LSE and the Moscow and St. Petersburg exchanges.
Globaltrans also reportedly filed an application on October 7 to delist GDRs from the Moscow Exchange.
In connection with the delisting and transition to a single listing on the AIX, Globaltrans' subsidiary, GTI Finance LLC, on October 8 launched a buyback of the company's GDRs, whose rights are recorded in the National Settlement Depository (NSD) and SPB Bank, at 520 rubles per security.
Globaltrans on October 15 filed an application for admission to listing and trading its GDRs on the AIX.
Globaltrans specializes in rail transportation of metallurgical cargo, petroleum products, construction materials and coal. The company was founded in 2004 by a group of like-minded entrepreneurs who united their freight rail transportation businesses under the Globaltrans brand. The total fleet of Globaltrans as of the end of June 2024 included about 64,500 units of rolling stock, and 94% of the total fleet is company-owned.
The main shareholder of Globaltrans with 26.7% of shares is Kazakhstan-based investment company Aqniet Capital LLP, whose beneficiary is businessman Kairat Itemgenov. Marigold Investments Ltd, whose beneficiary is Globaltrans co-founder Andrey Filatov, owns 11.5%. The free float is 55.7%.