Russia's Novatek Says Notified UK Authorities Of Delisting From LSE

Russia's Novatek Says Notified UK Authorities of Delisting From LSE

Russian gas major Novatek said on Tuesday it had applied to the UK Financial Conduct Authority to stop the listing of its global depositary receipts (GDRs) on the London Stock Exchange (LSE)

MOSCOW (Pakistan Point News / Sputnik - 07th February, 2023) Russian gas major Novatek said on Tuesday it had applied to the UK Financial Conduct Authority to stop the listing of its global depositary receipts (GDRs) on the London Stock Exchange (LSE).

"PAO NOVATEK (...) in connection with the actual suspension of trading of the Company's depositary receipts from 3 March 2022, hereby notifies of its request to the UK Financial Conduct Authority (FCA) to cancel the listing of the Company's global depositary receipts," the company said in a statement.

Novatek also requested the LSE to cancel the GDRs admission to trading on the LSE Main Market.

It is clarified that the last day for the listing of the GDRs will be March 7, 2023, the delisting will take effect from 8:00 GMT on March 8.