Sberbank's ADR move up 2.1% on second day of trades, shares - up 2.4%
MOSCOW. June 29 (Interfax) - Sberbank's American depositary receipts (ADRs) opened their second day of trading with a decrease in quotations.
According to the OTC Pink (over the counter trading) system, Sberbank's ADRs started trading at $13.8 on Tuesday. They closed the previous day at $13.95. Therefore, they opened their second day of trading with a decrease of 1.1%.
However, by the time of trading's close at Moscow time, the ADRs had increased by 2.1% to $14.24. With the close of trading on the MICEX (at 6:45 pm Moscow time), Sberbank's common shares had also increased, by 2.4% to 99.15 rubles.
The Bank of New York Mellon is the bank-depository for Sberbank's ADR program. Sberbank is the custodian.
Sberbank's ADR program foresees the issue of up to 1.35 billion ADRs (25% of the bank's charter capital)