Exchange Gazprom ADR for Gazprom Stock

[powergrab]

Hey,

I currently hold an amount of Gazprom ADRs (American depositary receipts; see American depositary receipt - Wikipedia). However, trading is halted due to US doing US-things and Russia said that all ADRs will be expiring worthless in October 2022.
Now I'm looking for a Russian depositary or with a foreign depositary acting as a foreign nominee and holding a securities account at a Russian depositary.

Does anyone of you know a russian bank + brokerage with an *english* page and support? I wouldn't even mind using a neobroker à la robinhood on my phone, as long as I can exchange my ADRs to actual stocks, which is only possible with a Russian depositary + bank account.

 

[troubled soul]

Russia adopts a draft law allowing DR conversion without the need for a Russian broker or bank account. This means that your broker will probably be able to convert your DRs to common shares inside your account.

Update: Russia Adopts Draft Law Allowing DR Conversion Without Reference to Foreign Infrastructure

The State Duma, Russia’s parliament lower chamber, adopted draft law No. 116264-8 on June 29, 2022, containing rules allowing the conversion of depository receipts into the underlying Russian shares without a need to go through non-Russian depositary banks, custodians, brokers, and other similar...

www.morganlewis.com

sraeli banks are already allowing this conversion and I hope other brokers around the world will allow it as well in the near future. Interactive brokers allow conversion of a few Russian DRs and I hope they’ll allow conversation of Gazprom DRs soon as well.

I suggest that you send your broker this information and ask him about this issue.

Still need , here is the neo broker who allowed this

Online broker

Every day thousands and thousands of people invest in Apple, Google, Netflix to have a steady income. We work with them, and we will be happy to work with you!

en.freedom24.com

 

[369]

if i'm not mistaken the window for gazprom is closed

 

[dylani]

Gazprombank was offering opening type C for holders of Gazprom ADRs for conversion a while back. Not sure if it's still the case.

 

[Martin Everson]

Now I'm looking for a Russian depositary or with a foreign depositary acting as a foreign nominee and holding a securities account at a Russian depositary.

Does anyone of you know a russian bank + brokerage with an *english* page and support? I wouldn't even mind using a neobroker à la robinhood on my phone, as long as I can exchange my ADRs to actual stocks, which is only possible with a Russian depositary + bank account.

Speak to the below guys and see if they can help you . They have a Cyprus office also.

Personal Investment Bank | BCS Global Markets

Number 1 broker on Moscow Exchange. BCS Global Markets (BCS GM) was launched to build an institutional business on its existing strengths in the Russian markets, and offers prime services and global markets business lines to institutional clients in Russia and internationally.

bcsgm.com

P.S You might be too small for them but things may have changed due to current situation and need to help those screwed over by we all know what situation.