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04 MARCH 2022 AL CIRCLE

London Stock Exchange bans trading in several GDRs of Russian enterprises including En+ Group

EDITED BY : RUPANKAR MAJUMDER 1MINS READ

On 3rd March 2022, the primary stock exchange in the United Kingdom and the largest in Europe, the London Stock Exchange (LSE) announced that it had suspended with immediate effect the trading of global depository receipts (GDRs) of various Russia-based companies including En+ Group.

LSE bans trading of En+ Group

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The London Stock Exchange has 24 companies incorporated in Russia trading on its bourse, out of which 17 are suspended. However, GDRs are negotiable certificates provisioned by a bank that represent shares in a foreign company but traded locally.

LSE bans trading of En+ Group

Notwithstanding, the suspension also impacted several other Russian companies such as En+ Group, the majority owner of Rusal, which is incorporated in the United Kingdom.

Aluminium LeaderSpeak 2022

LSE revealed in a statement, "Further to recent sanctions in connection with events in Ukraine, in light of market conditions, and to maintain orderly markets, the London Stock Exchange has suspended the admission to trading of the instruments with immediate effect.”

Tagged with:

Aluminium RUSAL UK

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EDITED BY : RUPANKAR MAJUMDER 1MINS READ

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