NILSY - Nornickel first Russian firm to win government OK to keep listing abroad

Russian miner Norilsk Nickel (OTCPK:NILSY) said Thursday it received government approval to keep its ADRs traded abroad after a recent ban on international listings, the country's first company to win such permission. The trading approval through late April 2023 gives time "to assess the existing opportunities, as well as to work out the necessary decisions aimed at maintaining investment attractiveness in the long term," the world's largest producer of palladium and refined nickel said. Russia's Vladimir Putin last month signed laws requiring a halt to trading in depositary receipts of Russian companies on foreign exchanges, while allowing for possible exceptions. Gazprom said last month that its request for an exception was rejected, and it expects to delist depositary receipts on May 31. Gazprom announced on Thursday that it would no longer export gas through Poland via the Yamal pipeline, sending European natural gas prices shooting higher.

For further details see:

Nornickel first Russian firm to win government OK to keep listing abroad