23 Mar 2023 11:53

Novatek changing GDR program depository from Bank of New York to RCS Issuer Services

MOSCOW. March 23 (Interfax) - Novatek is changing its depository for the Global Depositary Receipts (GDR) program from The Bank of New York Mellon to RCS Issuer Services S.AR.L., Russia's largest independent natural gas producer said in a statement.

Luxembourg-based RCS is expected to assume full responsibility for Novatek's GDR program as of June 21, 2023, Novatek said.

Holders of depositary receipts are not required to take any action in connection with the change in the depository, according to the statement.

The share of Novatek's GDRs was 17.46% of the charter capital at the end of 2021.

Polyus and United Medical Group have previously reported on transferring their respective depositary receipt programs to RCS.