Trading in American Depositary Receipts (ADRs) representing Gazprom's shares started today at the Moscow Exchange.
Listing of Gazprom's ADRs at a Russian stock exchange assures higher demand for these securities and, consequently, the Company's shares. It is another milestone of Gazprom's consistent efforts aimed at increasing the liquidity and price of the Company's securities.
Background
On February 12, 2014 American Depositary Receipts (ADRs) issued against Gazprom's shares were quoted on the List of Securities Admitted to Trading on MICEX (a part of the Moscow Exchange). Professional participants of the Russian securities market were permitted to deal with ADRs based on REPO terms. The Bank of New York Mellon acts as a depository for Gazprom's ADR Program.
