Novatek planning to delist from LSE, March 7 to be final trading day
MOSCOW. Feb 7 (Interfax) - Novatek has applied to the UK Financial Conduct Authority (FCA) to cease listing of its GDRs and to the London Stock Exchange (LSE) to cancel the admission of GDRs to trading in the primary market.
The company took this decision "in connection with actual suspension of trading in the company's global depositary receipts since March 3, 2022," Novatek said in a statement.
The last day GDRs are listed on the London Stock Exchange will be March 7. Termination of the listing will enter into effect from March 8, 2023.
After the termination of the listing on the London Stock Exchange, the company will retain the listing of shares on the organized market of the Moscow Stock Exchange.
The GDR program remains in force and in effect. Receipt holders may exercise their rights to securities subject to current Russian legislation, the issuer said.