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Moscow Says Firms’ Foreign-Listed Depositary Receipts Will Be Forced to Return to Russia

by Reuters


Russian companies whose depositary receipts are traded abroad will be obliged to return to Russia, unless other solutions arise, Economy Minister Maxim Reshetnikov said on Friday.

Several major Russian companies have listings abroad, which has always been a matter of prestige for them. But since Russia began what it calls a “special military operation” in Ukraine on Feb. 24, Western bourses have halted trading of Russian securities.

Holders of depositary receipts in Russian companies that are traded abroad can convert them into shares on the Russian market, Reshetnikov said…


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