Bank

The Central Bank has increased the daily limit on the sale of shares received from depositary receipts - Frank Media

The Bank of Russia has increased the daily limit on the sale of shares of Russian companies, which were converted from depositary receipts. Now it is 5% of the number of such securities, instead of 0.2% established earlier.

These restrictions apply only to operations of Russian residents who became holders of shares as a result of conversion of depositary receipts acquired after March 1, 2022 from "friendly" non-residents, as well as Russian companies and individuals.

On April 27, the Central Bank instructed depositories to separate accounting of shares of Russian issuers received as a result of conversion of foreign depositary receipts and also limited the daily limit of sales of shares received from depositary receipts.

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