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In December 2003, Severstal established a Level I sponsored Global Depositary Receipt («GDR») program for 19.99% of its shares. This program covers only existing shares and allows the shareholders of Severstal to convert their stocks into GDRs.
At that time, 1 DR includes 5 ordinary shares. This ratio was established after 1 to 25 stock split in December 2004, whereby the par value changed from RUB 0.25 to RUB 0.01. The old ratio was the opposite-proportion of 1 share to 5 DRs.
As a result of IPO happened in October-November, 2006 since November 14, 2006 Severstal’s GDR were admitted to the Official List of the UK Listing Authority (“Admission”). All previous GDR’s issues were converted to new GDR program. Currently, 1 DR includes 1 ordinary share. The Reg S GDRs listed on the London Stock Exchange under the symbol “SVST”. The 144A GDRs presented in the PORTAL system.
The custodian for the program is Deutsche Bank Trust Company Americas.
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| Issued GDR’s as at January 31, 2008 |
| Number: |
91,616,881
(Reg S + 144A) |
| % of share capital: |
9,1% |
| DR Ratio: |
1 DR: 1 ORD |
| DR ISIN: |
Reg S - US8181501045
144A - US8181503025 |
| CUSIP |
Reg S - 818150302
144A - 818150104 |
| DR Type: |
Reg S / Sponsored
144A / Sponsored | |
