Citi, acting through Citibank N.A., has been appointed by PJSC Tatneft (“Tatneft”) – one of the largest Russian oil companies – to act as depositary bank for its American Depositary Receipt (“ADR”) program.
Tatneft’s ADRs trade on London Stock Exchange under the symbol “ATAD” and on OTC market under the symbol “OAOFY”. Each ADR represents six ordinary shares of the company. Tatneft’s underlying ordinary shares are listed and trade on Moscow Stock Exchange under the symbols “TATN”.
Sberbank of Russia will continue to act as the Custodian providing safekeeping of the local underlying shares.
Commenting on the appointment, Dirk Jones, Global Head of Issuer Services, at Citi said: “I am delighted, on behalf of Citi that Tatneft has chosen to engage us to work with them as its Depositary Bank. Citi has a market-leading investor Relations Advisory team and an unrivalled global equity distribution network, which together enable Citi’s clients to expand their investor outreach. These unique advantages – together with colleagues around the globe – enable us to bring the power of Citi to bear for each of our clients.”
For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
About PJSC Tatneft
PJSC Tatneft is one of the largest vertically integrated oil companies in Russia in terms of crude oil production and proved oil reserves. Tatneft’s core operations are focused on exploration, development, production, treatment and processing of crude oil and gas. Tatneft is also involved in petrochemicals, mainly tires, production and marketing, power generation, manufacturing of equipment, engineering, procurement, and construction services, and banking activities
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20210219005260/en/