American depositary receipts (ADRs)
In June 2001, the Company signed a depository agreement with The Bank of New York Mellon and started issuing Level-1 ADRs with MMC Norilsk Nickel shares as the underlying asset.
The Company discloses information to ADR holders in English as per Rule 12g3-2(b) of the US Securities Exchange Act of 1934.
Starting 19 February 2008, the MMC Norilsk Nickel shares are convertible into ADRs at a ratio of 1:10 as a result of splitting the Company’s ADRs.
Until March, 2022 the Company’s ADRs were traded on the US OTC market and in the electronic trading system of OTC markets on the London, Berlin and Frankfurt stock exchanges. Norilsk Nickel’s ADRs were also included in the FTSE Russia IOB Index of the London Stock Exchange.
On April 28, 2023 the permission of the Government Commission on Control of Foreign Investments in the Russian Federation to maintain the circulation of the Company’s shares outside of Russia expired.
The depository agreement with The Bank of New York Mellon was terminated on May 23, 2023, and the ADR trades were terminated.
The Depositary Receipt program has been terminated since May 23, 2023.