The developer reported difficulties; previously he intended to delist in August 2023
Moscow. February 3rd. INTERFAX.RU – Developer Etalon Group intends to continue the procedure for ending the listing of its global depositary receipts (GDRs) on the London Stock Exchange (LSE), the group’s press service reports.
These are GDRs issued under Reg S and Rule 144A. The developer also plans to stop admitting GDRs to trading on the main market of the London Stock Exchange.
The LSE delisting is expected to take effect at 8:00 am (London time) on 7 February 2024, with 6 February 2024 being the last day for trading of the Company’s GDRs on the London Stock Exchange.
Etalon Group clarified to Interfax that on July 18, 2023, the company announced its intention to delist from the LSE, where it had a primary listing since 2011, and also indicated the expected date of termination of the listing – August 17, 2023.
“But the delisting process became more complex, resulting in the company receiving consent from the UK Financial Conduct Authority (FCA) in February,” the company explained.
Since 2020, receipts have also been traded on the Moscow Exchange. Registration of documents for obtaining a primary listing in Moscow was completed in July last year.
Etalon Group focuses on residential real estate for the middle class. The group’s land bank is 6.6 million square meters. meters.
As of the end of May 2023, the largest shareholder of Etalon Group was AFK Sistema (48.8%). Mubadala Investment Company owned 6.3%, Kopernik Global Investors – 5%, Prosperity Capital – 4.1%. Another 0.6% was owned by the management of Etalon Group, free float – 35.2%.
2024-02-03 08:50:00
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