{"id":518198,"date":"2021-07-27T09:03:30","date_gmt":"2021-07-27T13:03:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/citi-appointed-as-successor-depositary-bank-for-mmks-gdr-program\/"},"modified":"2021-07-27T09:03:30","modified_gmt":"2021-07-27T13:03:30","slug":"citi-appointed-as-successor-depositary-bank-for-mmks-gdr-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/citi-appointed-as-successor-depositary-bank-for-mmks-gdr-program\/","title":{"rendered":"Citi Appointed as Successor Depositary Bank for MMK\u2019s GDR Program"},"content":{"rendered":"

<\/p>\n

Citi Appointed as Successor Depositary Bank for MMK\u2019s GDR Program<\/b><\/p>\n

LONDON–(BUSINESS WIRE<\/a>)–
\nCiti, acting through Citibank N.A., has been appointed by PJSC Magnitogorsk Iron and Steel Works (\u201cMMK\u201d) \u2013 one of the largest Russian iron and steel companies \u2013 to act as successor depositary bank for its Global Depositary Receipt (\u201cGDR\u201d) program.\n<\/p>\n

\nMMK\u2019s GDRs are listed on the London Stock Exchange and trade under the symbol \u201cMMK\u201d. Each GDR represents 13 (thirteen) ordinary shares of the company. MMK\u2019s underlying ordinary shares are listed and trade on the Moscow Exchange under the symbol \u201cMAGN\u201d.\n<\/p>\n

\nSberbank of Russia will act as Custodian providing safekeeping of the local underlying shares.\n<\/p>\n

\nCommenting on the appointment, Dirk Jones, Global Head of Issuer Services, at Citi said, \u201cI am delighted, on behalf of Citi that MMK has chosen to engage us to work with them as Depositary Bank. We look forward to supporting MMK\u00b4s GDR program and to assisting MMK in expanding the company\u00b4s investor outreach further through the expertise of our Investor Relations Advisory team and the breadth of our global equity distribution network.\u201d\n<\/p>\n

\nFor more information on Citi\u2019s Depositary Receipt Services, visit www.citi.com\/dr<\/a>.\n<\/p>\n

About PJSC Magnitogorsk Iron and Steel Works
\n
<\/b>PJSC Magnitogorsk Iron and Steel Works is one of the world\u2019s largest steel producers and a leading Russian metals company. The Group\u2019s operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products, with a predominant share of high-value-added and premium products.\n<\/p>\n

About Citi
\n
<\/b>Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.\n<\/p>\n

\nAdditional information may be found at www.citigroup.com<\/a> | Twitter: @Citi | YouTube: www.youtube.com\/citi<\/a> |
\n
Blog: http:\/\/blog.citigroup.com<\/a> | Facebook: www.facebook.com\/citi<\/a> | LinkedIn: www.linkedin.com\/company\/citi<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210727005621\/en\/<\/a><\/span><\/p>\n

\nCiti Media Contact:
\n
Shani Halstead
\n
+44 (0) 20 7508 2352
\n
shani.halstead@citi.com<\/a><\/p>\n

KEYWORDS:<\/b> United Kingdom Europe<\/p>\n

INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Citi Appointed as Successor Depositary Bank for MMK\u2019s GDR Program LONDON–(BUSINESS WIRE)– Citi, acting through Citibank N.A., has been appointed by PJSC Magnitogorsk Iron and Steel Works (\u201cMMK\u201d) \u2013 one of the largest Russian iron and steel companies \u2013 to act as successor depositary bank for its Global Depositary Receipt (\u201cGDR\u201d) program. MMK\u2019s GDRs are listed on the London Stock Exchange and trade under the symbol \u201cMMK\u201d. Each GDR represents 13 (thirteen) ordinary shares of the company. MMK\u2019s underlying ordinary shares are listed and trade on the Moscow Exchange under the symbol \u201cMAGN\u201d. Sberbank of Russia will act as Custodian providing safekeeping of the local underlying shares. Commenting on the appointment, Dirk Jones, Global Head of Issuer Services, at Citi … <\/p>\n

Continue reading “Citi Appointed as Successor Depositary Bank for MMK\u2019s GDR Program”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-518198","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCiti Appointed as Successor Depositary Bank for MMK\u2019s GDR Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/citi-appointed-as-successor-depositary-bank-for-mmks-gdr-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citi Appointed as Successor Depositary Bank for MMK\u2019s GDR Program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Citi Appointed as Successor Depositary Bank for MMK\u2019s GDR Program LONDON–(BUSINESS WIRE)– Citi, acting through Citibank N.A., has been appointed by PJSC Magnitogorsk Iron and Steel Works (\u201cMMK\u201d) \u2013 one of the largest Russian iron and steel companies \u2013 to act as successor depositary bank for its Global Depositary Receipt (\u201cGDR\u201d) program. MMK\u2019s GDRs are listed on the London Stock Exchange and trade under the symbol \u201cMMK\u201d. Each GDR represents 13 (thirteen) ordinary shares of the company. MMK\u2019s underlying ordinary shares are listed and trade on the Moscow Exchange under the symbol \u201cMAGN\u201d. Sberbank of Russia will act as Custodian providing safekeeping of the local underlying shares. 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