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Gazprom OAO announces Singapore Exchange listing-Interfax

Tuesday, 17 Jun 2014 12:48am EDT 

Gazprom OAO:AMmerican Depositary Receipts (ADR) for shares in Gazprom were listed on the Singapore Exchange on June 17 morning, the Russian gas giant said in a statement-Interfax.Bank of New York Mellon is the ADR depositary bank.A source from Gazprom's management told Interfax earlier that the company planned to list on the Singapore Exchange.The company is not expecting its share price to increase as the result of this step.Some 5-7 percent of Gazprom's stock could end up trading on the Singapore Exchange, the source said.Gazprom has already held a number of non-deal road shows in the Asian financial centers, including Singapore, this year.Gazprom's ADRs are traded in London and on the American OTC market.They were admitted to trading in Moscow at the beginning of this year, meaning that they can now be traded 23 hours a day worldwide.At the end of Q1, 26.23 percent of Gazprom's shares were traded as ADRs.The ADR limit is 35 percent of issued shares. 

Company Quote

-0.2 -0.15%
26 Dec 2014