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Showing posts with the label Okey

Discounts applied upon liquidation of shares (underlying ADRs)

After the liquidation of the Sberbank shares underlying the ADR-program, various investors seem to wonder what the background is of this discount. Decree No. 81 of the President of the Russian Federation dated March 1, 2022, "On Additional Temporary Economic Measures to Ensure the Financial Stability of the Russian Federation" (Decree No. 81; https://www.consultant.ru/document/cons_doc_LAW_410578/ ) established a special procedure for the execution of transactions involving securities between residents of the Russian Federation and "persons of foreign states committing unfriendly acts". According to the general rule stipulated by Decree No. 81, transactions involving securities between residents of the Russian Federation and "unfriendly persons" are only possible with the permission of the Government Commission for the Control of Foreign Investment in the Russian Federation (the Government Commission). The minutes of the Government Commission meeting of th...
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O'key Group to delist from AIX

On April 10, 2026, the Gerenal Meetingof O'KEY GROUP S.A. decided to suspend trading on the AIX (Astana International Exchange) in the Group's global depositary receipts (ISIN US6708662019) from May 8, 2026 and to terminate trading and exclude these GDRs (ISIN US6708662019) from the official list of the AIX from May 13, 2026. O'key Group GDRs have also been listed on the Moscow Exchange since December 2020. It is planned that after delisting from AIX, the GDR program will continue to be traded on the Moscow Exchange. More information can be found here: https://okeygroup.lu/press-center/press-releases/2026/2033/
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Voluntary conversion of Okey group ADRs

We can now confirm that it is possible to successfully convert Okey group ADRs bought on the AIX into the underlying ordinary shares via voluntary conversion. Okey group, which is the owner of the "Da!" discount supermarkets in Russia, is planning to undergo redomiciliation from Luxembourg to Russia.  The ADRs of the Okey group are traded on the Moscow exchange (39.24 Rubles at the time of writing, which is about 0.50 USD) and on the Astana International Exchange (AIX) (current share price 0.30 USD). The ADRs are also traded over-the-counter (OTC).  After conversion of the ADRs you will receive a share certificate and you will be entered into the shareholder register in Luxembourg as a direct shareholder. Upon redomiciliation of Okey group to Russia your ordinary shares will be automatically transferred to the Russian shareholder register.  In our test run the process took various months to complete, but new cases may be quicker now that the process has been tested. Pleas...
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