23 April 2004 23:46
Northwest Telecom not to issue ADR-2 before end-2005
ST. PETERSBURG. April 23 (Interfax) - Northwest Telecom will not issue level-two ADRs before the end of 2005, after
the company has been reorganized, Nikolai Bredkov, the company's corporate management director, told reporters in
St. Petersburg.
"We have said we intend to issue level-two ADRs but the company's reorganization will not permit this in
2004. We will address the issue after the reorganization, which we plan to complete by October 1, 2004," Bredkov
said.
Northwest Telecom's level-one ADRs are trading well, Bredkov said. The company issued level-one ADRs for 2.313
million shares in July 2003. Not more than 1% of the company's stock is traded abroad at present.
Northwest Telecom consists of nine telecoms providers from Northwest Russia. Charter capital is 937.94 million
rubles, consisting of 735.917 million common shares and 202.023 million preferred shares, par value 1 ruble each.
Telecoms holding Svyazinvest owns 39.893% of the company. [RU ASIA EUROPE EEU EMRG TEL US WEU ISU STX] pr
[Interfax] |
RUSSIA IN FACTS
