Surgutneftegas gets permission to continue trading shares outside Russia

MOSCOW. May 24 (Interfax) - Surgutneftegas has received permission to continue having its shares traded outside Russia, the oil producer said in a statement.

American Depositary Receipts accounted for 3.36% of the company's ordinary shares and 5.55% of preferred shares as of June 30, 2021. One ADR represents 10 shares.

The percentage of ADRs has fallen consistently for at least the last five years. Surgutneftegas had 6.2% of ordinary and 8.4% prefs traded for ADRs at end-H1 2017, falling to 5.65% and 7.95% in 2018, to 5.07% and 6.83% in 2019 and 3.84% and 5.88% in 2020.

The Level 1 ADR program for ordinary shares was launched in 1996 and that for preferred shares in 1998. The depositary bank is Bank of New York Mellon .