By Jaime Llinares Taboada


Novatek said Friday that the Russian government has authorized it to continue with its global depositary receipt program outside of Russia.

Earlier this month, the gas producer had submitted a request to continue with its GDR program.

Novatek's GDRs are listed on the London Stock Exchange. The U.K. exchange has suspended their trading alongside those from other companies with strong ties to Russia.

On April 16, the Russian government passed a law preventing ordinary shares underlying the GDRs from having voting rights and receiving dividends.

On April 29, Moscow-controlled gas producer Gazprom PJSC said it was terminating its GDR programs after the Russian government rejected its request to continue with the circulation of its GDRs outside of Russia.


Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT


(END) Dow Jones Newswires

05-13-22 0354ET