25
May
16:25
MMK delists GDRs following permission refusal
Russian steelmaker Magnitogorsk Iron and Steel (MMK) is terminating its depositary receipts (DR) programme, the company says.
The decision comes as the Russian government’s foreign investment commission refused to grant the firm permission to continue trading its global depositary receipts (GDR) outside of the Russian Federation on 13 May, notifying MMK on 19 May. MMK was obliged to request the permission, alongside other fellow Russian steelmakers, as…
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Anonymous
Very good overview of the weekly steel market.
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