Severstal GDR listing on LSE cancelled
PAO Severstal (MOEX: CHMF; LSE: SVST) ("Severstal") notifies that the listing of global depositary receipts representing ordinary shares of Severstal (ISIN: US8181503025 and US8181501045) (“GDRS”) on the London Stock Exchange (LSE) has been cancelled.
At 8:00 a.m. London time on 22 August 2022, the Financial Conduct Authority announced that the GDRs are cancelled from its Official List effective from that time. The LSE also announced at that time on 22 August 2022 that the GDRs are cancelled from admission to trading on the LSE with effect from that time.
As announced earlier, the cancellation of listing and the termination of Severstal GDR Program is driven by the introduction of a number of sanctions restrictions against PAO Severstal, due to which the servicing of the Severstal’ GDR Program in accordance with Depository Agreements, as well as regular trading operations with the Severstal’ GDRs was no longer possible.
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PАО Severstal is a vertically integrated steel and steel-related mining company, working with customers and partners to create new products and integrated solutions from steel. The company's production facilities are located in Russia. Severstal is listed on MOEX (CHMF) and on the LSE (SVST). Severstal reported revenue of $11.6 million and EBITDA of $6 bln in 2021. Severstal’s crude steel production in 2021 reached 11.6 million tonnes.