Support The Moscow Times!

Rostelecom Shoots for LSE

Rostelecom is sticking with plans to secure listing on the London Stock Exchange before this year is out, company president Alexander Provotorov said, Interfax reported.

The operator expects to receive the listing go-ahead for its global depository receipts from Britain's Financial Services Authority and is doing preparatory work. Rostelecom will complete the listing procedure in the latter part of December, a source in banking circles told Interfax.

The Federal Financial Markets Service gave permission for 735.8 million common (24.99 percent of the total) and 60.71 million preferred (24.99 percent) Rostelecom shares to be floated abroad. JPMorgan is the organizer for the Rostelecom depository receipt program. This will enable the company's investor base to expand, as many foreign investment funds cannot invest in local shares, Provotorov said earlier.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.