Citi Appointed as Successor Depositary Bank for Severstal’s GDR Program
December 08 2021 - 4:00AM
Business Wire
Citi, acting through Citibank N.A., has been appointed by PAO
Severstal (“Severstal”) to act as successor depositary bank for its
Global Depositary Receipt (“GDR”) program.
Severstal’s GDRs are listed on the London Stock Exchange and
trade under the symbol “SVST”. Each GDR represents 1 (one) ordinary
share of the company. Severstal’s underlying ordinary shares are
listed and trade on the Moscow Exchange under the symbol
“CHMF”.
Sberbank of Russia will act as Custodian providing safekeeping
of the local underlying shares.
Commenting on the appointment, Dirk Jones, Global Head of Issuer
Services, at Citi said, “I am delighted, on behalf of Citi that
Severstal has chosen to engage us to work with them as Depositary
Bank. We look forward to supporting Severstal’s GDR program and to
assisting Severstal in expanding the company´s investor outreach
further through the expertise of our Investor Relations Advisory
team and the breadth of Citi’s global equity distribution
network.”
For more information on Citi’s Depositary Receipt Services,
visit www.citi.com/dr.
About PAO Severstal
PАО Severstal is one of the world's leading vertically
integrated steel and steel related mining companies, with assets in
Russia, Latvia and Poland.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20211208005129/en/
Media contact: Rekha Jogia-Soni
rekha.jogiasoni@citi.com
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