Russian gas producer Novatek, gold producer Polyus to keep listing abroad

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May 13 (Reuters) - Russia's largest producer of liquefied natural gas, Novatek (NVTK.MM), and the country's largest gold producer, Polyus (PLZL.MM), have received the government permission to keep their listing abroad, they said on Friday.

Metals giant Nornickel (GMKN.MM) became the first Russian company to be granted permission by a government commission to keep its listing abroad on Thursday, raising hopes that other firms would be able to retain the listings as well. read more

These approvals have been needed since President Vladimir Putin in April signed a bill requiring Russian companies to delist their depositary receipts abroad in a bid to reduce foreigners' influence over these firms.

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The government commission authorised Novatek not to terminate its Global Depository Receipt (GDR) programme and to continue GDR circulation outside Russia, it said in a statement.

Polyus said in a separate statement that it obtained a permission from the commission to continue its depositary receipts (DR) programs in London as well.

"Looks like other companies will be getting approvals for their DR programs too," analysts at BCS said in a note on Friday.

Maintaining a foreign listing could mean that the company will continue to adhere to best corporate governance and could be also positive for a company's long-term interaction with Western investors, according to BCS.

Russian steel producers NLMK (NLMK.MM) and MMK (MAGN.MM) and firms like Sistema (AFKS.MM), Magnit (MGNT.MM) and En+ (ENPLI.RTS) have said that they have also applied for similar permission. The result of their applications is yet to be disclosed.

A request by Russian gas giant Gazprom (GAZP.MM) was rejected and the company expects delisting of its depositary receipts on May 31.

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Reporting by Reuters; editing by Louise Heavens

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