Home  Issuers' Corner  Press Releases
CLOSE

Press Releases

company search
all press releases
all ROSSETI press releases

ROSSETI

March 5, 2009

JSC IDGC Holding receives FFMS permission for foreign transactions related to its shares

The Federal Financial Markets Service of the Russian Federation (FFMS) has granted permission for transactions involving transfer of ownership of 102,428,100 ordinary shares in JSC IDGC Holding and 650,000 preference shares in JSC IDGC Holding outside the Russian Federation.

The total number of the shares that may be traded abroad accounts for 0.24% of the total number of JSC IDGC Holding’s outstanding shares.

JSC IDGC Holding’s move to organize these foreign transactions is in favor of the former holders of RAO UES of Russia ADRs/GDRs who, on completion of the second phase of the company’s reorganization, submitted to their respective depositary banks (The Bank of New York Mellon and Deutsche Bank Trust Company Americas) confirmations that they were willing to have the depositary receipts of JSC IDGC Holding.

The depositary receipts of JSC IDGC Holding will be issued under the SEC-approved GDR programs in accordance with Regulation S and Rule 144A. The depositary receipts will be traded in the OTC market. The Rule 144A GDRs will be traded in the PORTAL system among qualified institutional buyers (QIBs). The Bank of New York Mellon acts as the depositary bank for these depositary receipt programs.

If JSC IDGC Holding shareholders wish to expand the GDR programs in the future, the company will apply to FFMS for permission to increase the quantity of its shares that may be traded abroad.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer