QIWI, a provider of electronic payment services in Russia and the Commonwealth of Independent States, has appointed BNY Mellon as depositary bank for its American depositary receipt (ADR) program with listings on both NASDAQ and the MICEX Stock Exchange, a subsidiary of the Moscow Exchange.
Each QIWI ADR represents one ordinary share and has been admitted to trading on MICEX under the proposed symbol “QIWI.” QIWI’s ordinary shares are not traded.
Earlier this month BNY Mellon acted as depositary bank in connection with QIWI’s ADR program on NASDAQ, trading under the ticker symbol “QIWI.” The company’s initial public offering marked the first listing of ADRs by a Russian-based company on NASDAQ. This is also the first-ever listing of ADRs in Moscow; Russian regulations allow a domestic listing of foreign securities if a company is trading on a recognized exchange.
“We consider the admission of our securities to trading as a first step toward creating local liquidity,” said Alexander Karavaev, COO at QIWI.
QIWI in Russia Appoints BNY Mellon as Depositary Bank for ADR Program
QIWI, a provider of electronic payment services in Russia and the Commonwealth of Independent States, has appointed BNY Mellon as depositary bank for its American depositary receipt (ADR) program.
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