the Company En+ Group, the world’s largest manufacturer of energy and aluminum, 13 Feb applied for listing of ordinary shares on the Moscow stock exchange.
the Company intends to allocate ordinary shares on the Moscow stock exchange, and simultaneously to exclude the global Depository receipts from the quotation lists (to delist) on the Moscow stock exchange, the press release of the company.
This decision is part of plans “to create a diversified platform for investors in joint-stock tools and obtaining improved access to capital markets.”
“Submitted the application for admission to trading of ordinary shares on the Moscow exchange; the period of the application takes up to 20 working days,” said the company.
the Company and the Moscow stock exchange agreed to the delisting of the GDR in two months after placing of ordinary shares. In this transition period, on the stock exchange will continue trading two instruments — GDRs and ordinary shares.