Russia's O'Key Group to list GDRs on Kazakhstan's Astana exchange (updated)

O'Key SA

17/03/2023 12:11

(Adds share movement, background, quote)
       MOSCOW, March 17 (Reuters) - Russian food retailer O'Key
Group SA  OKEYq.L  will list its global depositary receipts
(GDRs) on Kazakhstan's Astana International Exchange (AIX), it
said on Friday, causing the firm's Moscow-listed securities to
jump higher.
   "The group intends to keep both its primary listing on the
London Stock Exchange, which it has had since November 2010, and
its secondary listing on the Moscow Exchange, where its GDRs
have traded since December 2020," O'Key said in a regulatory
filing. 
        The group does not plan to issue new shares in
connection with its AIX listing, it said. Its Moscow-listed GDRs
 OKEYDR.MM  were up around 8% as of 1156 GMT. 
  
        Some Russian companies are reviewing their overseas
listings because of fallout from the conflict in Ukraine and
Western sanctions against Russia.
  
        Russian gold and silver producer Polymetal has said it
is 
    considering
     moving its parent company's domicile and primary listing,
currently in Jersey and London respectively, to
"Russia-friendly" Kazakhstan, which "could unblock the ability
to execute further corporate actions".
  
        A handful of Russian companies were notified this week
that their securities would be delisted from the Nasdaq stock
exchange, where trading in some Russia-linked stocks has been
suspended for more than a year since Russia sent its troops into
Ukraine.    
  

 (Reporting by Reuters; Writing by Felix Light and Alexander
Marrow
Editing by Mark Trevelyan)
 ((alexander.marrow@thomsonreuters.com))