Gazprom GDRs listed on Singapore Exchange
Gazprom's unrestricted American Depositary Shares (the Global Depositary Receipts or the GDRs) were granted an introductory listing and included in the quotation list of the Singapore Exchange.
The listing of Gazprom's GDRs on the Singapore Exchange is a significant result of the Company's efforts to broaden its investor base globally. Investors from the Asia-Pacific region are getting access to Gazprom's remarkable long-term growth. Gazprom is committed to creating long-term value for all its shareholders, and the Singapore listing will positively support the liquidity of Gazprom's shares.
This step aims to bring Gazprom to the ultimate goal of 24-hour trading of the Company's securities on international platforms.
Gazprom's joint corporate brokers Horizon Corporate Finance, JP Morgan, and Gazprombank acted as the financial advisers to the transaction, and Skadden, Arps, Slate, Meagher & Flom together with Allen & Gledhill provided legal advice on the listing. BNY Mellon is the depositary bank for Gazprom's GDR Program.
Background
Gazprom views the Asia-Pacific region as a top-priority market with vast development potential. The Company is currently supplying liquefied natural gas to the region. In May 2014 Russia and China signed the biggest supply contract in the entire history of the USSR and Gazprom – over 1 trillion m3 of gas will be supplied during a 30-year contractual period.
Gazprom's shares are currently traded on the Moscow Exchange and the Saint Petersburg Exchange, with the Depositary Receipts traded on the London Stock Exchange, the Moscow Exchange, the US OTC market, as well as on the Berlin and Frankfurt Stock Exchanges.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/business-news/18062014/gazprom_gdrs_listed_on_singapore_exchange/
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