Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Vandana Singh

JPMorgan No More A Depositary For Russia-Based Rosneft's GDRs

JPM Rosneft Russia Gazprom Wikimedia Commons Oil Ukraine
  • JPMorgan & Chase (NYSE:JPM) has resigned as a depositary of global depositary receipts (GDR) of Russia's largest oil producer Rosneft (OTC:RNFTF), Reuters reported.
  • Last month, JPMorgan & Chase started to allow holders of depositary receipts in Russian companies to cancel them, two sources familiar with the matter said, giving some investors a way to liquidate what has primarily been frozen holdings due to the conflict in Ukraine. 
  • Some Russian companies have been granted permission from the government to keep their depositary receipts programs. Gas producer Gazprom (OTC: OGZPY) was among those who decided to cancel it.
  • Rosneft has not yet stated its plans for its GDR program. Rosneft's GDRs, issued in 2006, account for 4.8% of its total share capital.
  • Price Action: JPM shares closed 0.02% lower at $122.25 during after-hours trading on Tuesday.
  • Photo via Wikimedia Commons
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
"The bear probably had a pretty traumatic experience" – disturbing video shows people hauling cub out of tree for selfies
One of the cubs is recovering in rehab and is expected to be released into the wild
Advnture
Advnture
Two endangered black-footed ferrets cloned from frozen tissue samples
Noreen and Antonia, born last May, are among first cloned offspring of a native endangered species in the North America
The Guardian - US
The Guardian - US
Are "Quiet on Set" directors unethical?
"What is different from them to Dan Schneider? ... I only see a crossover," said "Zoey 101" star Alexa Nikolas
Salon
Salon
‘It taught me about brainwashing’: how reality show stars fell for a fake Prince Harry
A show in which women competed to date a royal lookalike was panned at the time as ‘fodder for the braindead’. But the contestants had been duped, as a new podcast reveals …
The Guardian - UK
The Guardian - UK
The Rise of 'Grid Zero': Why more Instagram users are hiding their profile
Many users are concealing their public photos and sharing instead in private spaces. It's something of a protest against the over-sharing culture of social media. And Gen Z is driving the trend.
WEKU
WEKU
In what's turning out to be a bumper year for Led Zeppelin fans, more unseen live footage has emerged
The previously unseen film, shot in Ohio in 1975, was discovered in the archives of the Rock & Roll Hall of Fame
Louder
Louder
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play