Investors have one more month to convert receipts and transfer Russian securities from abroad
7 October 2022
News
Investors will be able to apply for a forced conversion of their depositary receipts into Russian shares through 10 November 2022. An extra month is also given to those wishing to make a forced transfer of Russian securities from foreign depositories to Russian ones. A law to this effect has been signed by the President of Russia.
The term has been extended to let securities holders collect necessary documents and apply. No later than 24 November 2022, Russian depositories are required either to open accounts for applying investors and credit Russian securities to such accounts or refuse to conduct the transactions.
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