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Russia Watchdog May End Depositary Receipt Limit, Interfax Says

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Oct. 19 (Bloomberg) -- Russia’s Federal Financial Markets Service may lift restrictions on converting local shares into depositary receipts, Interfax reported today, citing Dmitry Pankin, the service’s head.

Under current regulations, depositary receipts can only account for 25 percent of a company’s total shares and 50 percent of its listed shares, Interfax said.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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