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Bank of New York Mellon is new depositary bank of Russia’s Novatek

February 29, 17:11 UTC+3 MOSCOW
Deutsche Bank Trust Company Americas was the previous depositary bank of the Russian company
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© Stanislav Krasilnikov/ITAR-TASS

MOSCOW, February 29. /TASS/. Novatek changed its depositary bank under the global depositary receipts (GDR) program, the Russian natural gas producer said on Monday. The contract with the Bank of New York Mellon comes into force from February 29, 2016, Novatek said.

Deutsche Bank Trust Company Americas was the previous depositary bank of the Russian company.

Novatek completed listing of its GDRs on the London Stock Exchange in 2005. The ratio of global depositary receipts to ordinary shares is 1 to 10.

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