Daily Management Review

Plans Of En+ GDRs Suspension Are Cancelled: LSE


06/04/2018


Even as the sanctions on Russia imposed by the U.S. include En+, the LSE cancels its suspension on the companies GDRs.



London Stock Exchange made announcements of cancelling plans for suspending trade in “global depositary receipts (GDRs) of En+”. This decision was made after a decision was taken by the “U.S. Treasury Department” that the U.S. investors will get “more time” for divesting from the company that comes under the effect of “sanctions against Russia”.
 
Some of the biggest corporate figures and companies of Russia were placed under sanctions by Washington, the list of which includes “London-listed En+”. This step was targeted at the allies of President Putin, as a measure of punishment for allegedly “meddling” with the “2016 U.S. presidential election” along with the “other so-called malign activities”.
 
The En+ is a venture of businessman Oleg Deripaska which manages his “aluminium and hydropower businesses”. Earlier the London Stock Exchange has pushed back the “suspension of En+ GDRs”. However, this time it wasn’t made clear if a “suspension” would be applied in the coming future. As per a statement:
“The Exchange will not suspend the trading of En+ Group GDR... on Friday 1 June 2018”.
“The Exchange will continue to monitor the situation and is in communication with the UK authorities.”
 
 
References:
reuters.com







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