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Gazprom shares frozen/cancelled?
Type_45
Posts: 1,723 Forumite
A UK investor I chat to online claims his Gazprom shares are about to be cancelled.
"They were frozen months ago and it seems they are now being cancelled", is what he's said.
Does this ring true?
"They were frozen months ago and it seems they are now being cancelled", is what he's said.
Does this ring true?
0
Comments
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Yes, looks like the depository receipts listed in New York and London have already been delisted at the company's request. The company said that it is to comply with a Russian law as it hadn't been granted permission to continue with these listings abroad. The RNS, link below, says the DRs can be exchanged for Gazprom shares - presumably those listed in Moscow - but I'd imagine people will have problems trading those, or at least getting money out of Russia.Type_45 said:A UK investor I chat to online claims his Gazprom shares are about to be cancelled.
"They were frozen months ago and it seems they are now being cancelled", is what he's said.
Does this ring true?
It's been a bad idea to invest in Russian companies basically forever but especially since, IIRC, the annexation of Crimea when it began to be hit with sanctions.
https://www.investegate.co.uk/pjsc-gazprom-neft--gaz-/rns/effective-delisting-date/202206151411400119P/
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