On 29 June, OAO SBERBANK of Russia (ISIN: US80585Y3080) became the first Russian company in the Entry Standard, moving up from the Open Market. 337,500,000 ADRs have been admitted as part of Bank of New York Mellon's newly launched sponsored ADR programme. The initial price was €9.62. Morgan Stanley Bank AG is acting as applicant, listing partner and designated sponsor; Baader Bank Aktiengesellschaft is acting as specialist. The new ADRs are eligible for collective safe custody and integrated into the central counterparty (CCP). Sberbank's ADRs are included in the indices Entry All Share, DAXsector All Banks and DAXsubsector All Credit Banks.
“We are delighted to be able to welcome a Russian blue chip – Sberbank – as the first Russian company in the Entry Standard,” said Frank Gerstenschläger, member of the Executive Board of Deutsche Börse AG and responsible for the Xetra business area. “The Entry Standard is the right choice for companies that want to position themselves more visibly within the Open Market and that want to make more information available to the capital market. It is an ideal platform for companies wishing to position themselves to attract international investors.”
According to information from the company, Sberbank of Russia is the largest Russian bank in Russia/CIS with a current market capitalisation of $73.6 billion. The bank has the most widespread branch network in Russia/CIS with 19,400 branches and nearly 245,000 employees. The original shares have been traded on the Russian stock exchanges MICEX and RTS since 1996.
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Deutsche Börse: SBERBANK Moves Up To The Entry Standard - ADRs In The Largest Russian Bank Tradable On The Entry Standard
Date 29/06/2011