The Bank of New York Selected as Depositary by VTB Bank for its GDR Listing on the London Stock Exchange
Program is the market’s 2,000th sponsored depositary receipt available to investorsNEW YORK, May 16, 2007--The Bank of New York, a global leader in securities servicing, has been selected by JSC VTB Bank as the depositary bank for its global depositary receipt (GDR) program. Each VTB GDR represents 2,000 ordinary shares. The GDRs trade on the London Stock Exchange under the symbol "VTBR." VTB's ordinary shares will trade on the Moscow Interbank Currency Exchange and the Russia Trading System Stock Exchange.
VTB's GDR program represents a number of milestones. It is the:
- Record 2,000th sponsored depositary receipt (DR) program available to investors worldwide;
- Largest DR offering ever from a bank;
- Second-largest DR offering ever from a Russian issuer; and
- Second-largest DR offering in history.
Christopher Sturdy, executive vice president and head of The Bank of New York’s Depositary Receipt Division, said, "It is fitting that the 2,000th DR program was established by a Russian issuer completing a large IPO on the London Stock Exchange. It truly represents the continued growth and evolution of today's DR market, and we are pleased to support VTB with our best-in-class program management services."
Nikolai Tsekhomsky, chief financial officer of VTB, said, "The size of our depositary receipt program demonstrates the high level of international interest in our company. The establishment of this program with The Bank of New York is part of our commitment to our international shareholders. With our London listing the bank is entering a new era and we look forward to continuing our dialogue with investors in the future."
VTB is a leading Russian banking group offering a wide range of banking services and products across Russia, certain CIS countries and in selected countries in Western Europe, Asia and Africa. The Group provides its products and services to Russian and CIS clients through its domestic and foreign operations and to foreign clients doing business primarily related to, or in, Russia and the CIS through its foreign banking subsidiaries and representative offices. The company reports that it is the second-largest banking group in Russia by assets, total loans and total deposits.
The Bank of New York is depositary for more than 1,250 American and global depositary receipt programs, a 64% market share, acting in partnership with leading companies from 62 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Bank delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and wealth management. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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