Press releases 2011
London Stock Exchange Welcomes Sberbank of Russia
- Russia’s largest credit institution admits unlisted ADRs
- Sberbank will become the 54th Russian company on the International Order Book
London Stock Exchange (LSE) today welcomes to trading Sberbank – the largest credit institution in Russia and CIS. The company has admitted unlisted, sponsored level 1 ADRs to trading though the LSE’s Admission to Trading Only facility and they will be traded on the International Order Book. The underlying shares are listed on MICEX, the Russian stock exchange.
Sberbank has a market capitalisation of £47 billion. The company will be admitting 1 349 184 250 ADRs, each representing 4 ordinary shares.
Sberbank will be included in the FTSE Russia IOB index effective from the start of trading on 4 July 2011.
Tracey Pierce, Director of Primary Equity Markets at London Stock Exchange Group said:
“We are delighted to welcome Sberbank to trading. As Russia’s largest bank, it will take its place alongside a group of global peers and over 50 other Russian companies trading on the IOB.
Companies want to access the markets in different ways and Sberbank’s admission will give it the opportunity to raise its profile in London whilst benefitting from the liquidity that our International Order Book can provide.”
‘Admission to Trading Only’ refers to securities which are not listed in London or passported on to the Exchange’s regulated markets (the Main Market and the Specialist Fund Market). Companies are required to comply with the London Stock Exchange's Admission and Disclosure Standards and, as appropriate, comply with the standards of any other exchange where these securities are listed. This facility is designed to be used by companies as a first step towards a full listing.
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For further information, please contact:
Tom Gilbert Press Office +44 (0)20 7797 1222
Notes to editors:
Admission to Trading Only:
Further information can be found at: www.londonstockexchange.com/companies-and-advisors/listing/admission-to-trading/admission-to-trading.htm
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.