Trading discontinues in Globaltrans GDRs in T +1 setting on Moscow Exchange
MOSCOW. Oct 21 (Interfax) – Trading has actually discontinued in the GDRs of Globaltrans Investment Plc in the T +1 setting on the Moscow Exchange on Monday according to the upcoming delisting of GDRs from the MOEX on November 12, the rail haulage firm claimed.
Holders of GDRs will certainly not have the ability to impact GDR acquisition and sale deals on arranged professions of the Moscow Exchange beginning on October 21. However, owners of GDRs might still market their corresponding GDRs by joining the tender deal up until November 6, comprehensive, Globaltrans claimed.
As reported, Globaltrans’ board of supervisors on September 13 authorized the listing of the firm’s GDRs on the Astana International Exchange (AIX) and the volunteer delisting of GDRs from the London Stock Exchange, the Moscow Exchange, and the SPB Exchange, specifically.
The AIX is anticipated to end up being the single trading system for the firm’s GDRs after delisting from the LSE and the Moscow andSt Petersburg exchanges.
Globaltrans likewise supposedly submitted an application on October 7 to delist GDRs from the Moscow Exchange.
In link with the delisting and change to a solitary listing on the AIX, Globaltrans’ subsidiary, GTI Finance LLC, on October 8 released a buyback of the firm’s GDRs, whose civil liberties are taped in the National Settlement Depository (NSD) and SPB Bank, at 520 rubles per protection.
Globaltrans on October 15 submitted an application for admission to listing and trading its GDRs on the AIX.
Globaltrans focuses on rail transport of metallurgical freight, oil items, building and construction products and coal. The firm was established in 2004 by a team of similar business owners that joined their products rail transport services under the Globaltrans brand name. The overall fleet of Globaltrans since completion of June 2024 consisted of concerning 64,500 systems of rolling supply, and 94% of the overall fleet is company-owned.
The major investor of Globaltrans with 26.7% of shares is Kazakhstan- based investment firm Aqniet Capital LLP, whose recipient is business ownerKairat Itemgenov Marigold Investments Ltd, whose recipient is Globaltrans founder Andrey Filatov, has 11.5%. The totally free float is 55.7%.
