The Bank of New York Mellon has been selected by JSC “Holding MRSK” as the depositary bank for its global depositary receipt (GDR) ordinary and preferred programs.
For both the ordinary and preferred GDR programs, each JSC Holding MRSK global depositary receipt represents 400 ordinary shares respectively. The ordinary and preferred shares trade on the Moscow Interbank Currency and on the Russian Trading System under the symbol “MRKH.”
JSC Holding MRSK, a management company established from the spin-off of RAO UES of Russia, will take a controlling stake in all Interregional Distribution Grid Companies (IDGCs).
“As the leading depositary bank, we look forward to helping JSC Holding MRSK and other newly formed companies resulting from the RAO UES spin-off to increase their international profile in the years ahead,” says Michael Cole-Fontayn, chief executive officer, Depositary Receipt Division, Bank of New York Mellon.
“The establishment of JSC Holding MRSK marks the end of the most complex corporate action to date involving depositary receipts, and The Bank of New York Mellon is proud to have played a fundamental role in the broad restructuring of Russia’s energy sector.”
L.D.