TMK announces that its Global Depositary Receipts (GDR) are admitted to trading on the Moscow Exchange (MICEX Stock Exchange) and included in the section of Non-Listed Securities.
TMK is the first Russian issuer with its GDRs to be traded on the Moscow Exchange. Currently, TMK’s ordinary shares are traded in Moscow while its GDRs are listed in London (LSE) and its American Depositary Receipts (ADR) are quoted on the OTCQX over-the-counter trading platform. TMK’s GDRs were assigned by the Moscow Exchange the same TMKS ticker as on LSE. TMK’s GDRs will start trading on Wednesday, 16 October.
“TMK’s GDRs listing on the Moscow Exchange allows using the securities for transactions with exchange-traded repos. We believe that these new opportunities will make our GDRs more attractive to investors, contributing to better liquidity of the Company’s securities,” commented Vladimir Shmatovich, TMK’s Vice President for Strategy and Business Development.
TMK (www.tmk-group.com)
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for the oil and gas industry, operating 28 production sites in the United States, Russia, Canada, Romania, Oman, UAE, and Kazakhstan and two R&D centers in Russia and the USA. In 2012, TMK’s pipe shipments totaled 4.22 million tonnes. The largest share of TMK’s sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing.
TMK’s securities are listed on the London Stock Exchange, the OTCQX International Premier trading platform in the U.S. and on the Moscow Exchange MICEX-RTS.