16 May 2022 09:31

Rostelecom to end ADR program July 8

MOSCOW. May 16 (Interfax) - Rostelecom intends to terminate its American Depositary Receipts (ADR) program effective July 8, the Russian national telecom provider said in a press release on Friday.

Rostelecom said it has sent a notice to its depositary bank - Citibank, N.A. - requesting the termination of the deposit agreement governing the ADRs issued on the company's ordinary shares.

"The ADR programme will be terminated in line with the deposit agreement set to expire on 8 July 2022," Rostelecom said.

ADR holders can contact Citibank, N.A. directly to cancel their depositary receipts and withdraw underlying shares, Rostelecom said.