off-the-wire

UPDATE 1-Russia's O'Key Group to list GDRs on Kazakhstan's Astana exchange

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds share movement, background, quote) MOSCOW, March 17 (Reuters) - Russian food retailer O'Key Group SA will list its global depositary receipts (GDRs) on Kazakhstan's Astana International Exchange (AIX), it said on Friday, causing the firm's Moscow-listed securities to jump higher. "The group intends to keep both its primary listing on the London Stock Exchange, which it has had since November 2010, and its secondary listing on the Moscow Exchange, where its GDRs have traded since December 2020," O'Key said in a regulatory filing.


The group does not plan to issue new shares in connection with its AIX listing, it said. Its Moscow-listed GDRs were up around 8% as of 1156 GMT.


Some Russian companies are reviewing their overseas listings because of fallout from the conflict in Ukraine and Western sanctions against Russia.


Russian gold and silver producer Polymetal has said it is


considering moving its parent company's domicile and primary listing, currently in Jersey and London respectively, to "Russia-friendly" Kazakhstan, which "could unblock the ability to execute further corporate actions".


A handful of Russian companies were notified this week that their securities would be delisted from the Nasdaq stock exchange, where trading in some Russia-linked stocks has been suspended for more than a year since Russia sent its troops into Ukraine.

(Reporting by Reuters; Writing by Felix Light and Alexander Marrow Editing by Mark Trevelyan)

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