Globaltrans GDRs admitted for trading on Astana International Exchange

MOSCOW. Oct 22 (Interfax) - Globaltrans Investment PLC GDRs have been admitted for trading on the Astana International Exchange (AIX), the rail haulage company said.

Globaltrans on October 15 filed an application for admission to listing and trading its GDRs on the AIX. The AIX is expected to become the sole trading platform for the company's GDRs after delisting from the London Stock Exchange, the Moscow Exchange , and the SPB Exchange . Globaltrans does not plan to issue new shares or GDRs as part of the listing on the AIX, the company said.

Trading 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. Holders of GDRs may sell their respective GDRs by participating in the tender offer until November 6, inclusive.

As reported, Globaltrans' board of directors on September 13 approved the listing of the company's GDRs on the AIX and the voluntary delisting of GDRs from the LSE, the Moscow Exchange, and the SPB Exchange, respectively.

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 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.

Globaltrans' principal shareholder with a 26.7% stake is Kazakhstan-based investment company Aqniet Capital LLP, whose beneficiary is businessman Kairat Itemgenov. Marigold Investments Ltd, whose beneficiary is Globaltrans co-founder Andrei Filatov, owns 11.5%. The free float is 55.7%.