BNY Mellon has been appointed by Sberbank as the depositary bank for its American depositary receipt program.
One Sberbank American depositary receipt represents four ordinary shares. The American depositary receipts trade on the OTC market under the symbol SBRCY. Sberbanks ordinary shares trade on MICEX under the symbol SBER03 and on RTS under the symbol SBER.
Sberbank operates subsidiary banks in Kazakhstan, Ukraine and Belarus, and also has a representative office in Germany and a branch in India.
As part of our plan to increase Sberbanks international visibility and gain further access to the global capital markets, we decided to establish a sponsored ADR program, says Herman Gref, CEO of Sberbank. By selecting BNY Mellon we have partnered with an institution that will assist us in providing the support necessary to achieve these objectives.
Robert P. Kelly, chairman and CEO of BNY Mellon, adds: The establishment of an ADR program for Sberbank is a landmark transaction. Much like BNY Mellon, Sberbanks heritage as a key player in its nations development and economy spans centuries, and we look forward to expanding our relationship.
(CM)