1 Dec 2010 16:36

Sberbank to decide in DR program timing in next 2 mths

MOSCOW. Dec 1 (Interfax) - Sberbank will decide on the timing of a Depositary Receipt (DR) program in the next two months.

"We'll decide on the timing in the next couple of months," Anton Karamzin, the bank's deputy chairman, told reporters.

It has yet to be decided in what form the receipts will be issued, or whether they will be issued before the privatization of Sberbank of Russia shares belonging to the Central Bank of Russia begins, or within the framework of that privatization process.

"In one form or another, the receipt program will either precede the privatization or be in the context of the privatization," Karamzin said.

It also has yet to be determined on which exchange the receipts will be placed, he added.