Owner of Russian bank Tinkoff plans delisting of shares from LSE from Jan. 31

MOSCOW (Reuters) - TCS Group Holding, owner of Russian online bank Tinkoff, has requested that its suspended global depositary receipts be delisted from the London Stock Exchange from Jan. 31.

"The LSE suspended the admission of the GDRs to trading on 3 March 2022 and the Company has received no indication since that trading may be recommenced," TCS said in a statement on Tuesday.

"Accordingly, the Company hereby requests to proceed with the Delisting in order to avoid the ongoing commitment of time and resources necessary to maintain the LSE listing. The Company intends to terminate its Rule 144A GDR program promptly following the Delisting."

(Reporting by Reuters; Editing by Kevin Liffey)