08/12/2011 The London Stock Exchange welcomes MRSK Holding on its first day of trading
The London Stock Exchange today welcomes MRSK Holding on its first day of trading. Trading of MRSK Holding’s shares in the form of Global Depositary Receipts commenced today following the successful admission of the Company to the Official list under the symbol MRSK.
MRSK Holding is the largest electricity distribution company in Russia and one of the largest electricity distribution companies in the world. Its principal activities are distributing electricity and providing technological connection to the Russian low and medium voltage electricity distribution grid network, as well as connecting customers to its electricity distribution grids. The Company’s market capitalisation is approximately USD $4 billion.
Commenting on the listing, MRSK Holding’s CEO Nikolay Shvets, said:
“We are delighted to see MRSK Holding’s GDRs listed on the London Stock Exchange as we look to further diversify and expand our shareholder base, as well as to increase liquidity of our equity securities. Listing in London is an important milestone in our history, allowing us to maintain our leadership in the Russian electricity distribution system. We look forward with confidence to our future as a London-listed company and to delivering value to all shareholders.”
The Bank of New York Mellon is the depositary bank for the GDRs, Allen & Overy LLP acted as legal advisors and FTI consulting handled international communications.