PJSC Magnitogorsk Iron and Steel Works (MMK)
PJSC Magnitogorsk Iron and Steel Works: MMK appoints Citi as Depositary Bank for GDR Programme

27-Jul-2021 / 08:00 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


MMK Appoints Citi as Depositary Bank

for GDR Programme

 

27 july 2021

Magnitogorsk, Russia

 

 

PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, notifies about the change of depositary for its Global Depositary Receipts program.

MMK announces that Citibank, N.A. has replaced The Bank of New York Mellon as depositary for the MMK's Global Depositary Receipt ("GDR") program (the "GDR Program"), effective as of July 27, 2021.

The MMK's GDRs trade on London Stock Exchange under the symbol "MMK". Each GDR represents 13 (thirteen) ordinary shares of the company. MMK's underlying ordinary shares are listed and trade on Moscow Stock Exchange under the symbols "MAGN".

PJSC Sberbank will continue to act as the Custodian providing custody of the local underlying shares.

Holders of the Company's GDRs do not need to take any action in connection with this notice.

 

Information regarding the Depositary:

Citibank, N.A. is a national banking association organized under the United States federal law. 

The registered office of the Depositary is located at 388 Greenwich Street, New York, New York 10013, USA.

For more information about Citibank, N.A.'s services relating to the ADRs please visit https://depositaryreceipts.citi.com/.

  

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The Group's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products, with a predominant share of premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln tonnes of commercial steel products.

??K is an industry leader in terms of production costs and margins. Group revenue in 2020 totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.06? at the end of 2020. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's and S&P.

MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 18.7%.

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Investor Relations Department

Veronika Kryachko
+7 (915) 380-62-66
kryachko.vs@mmk.ru

 

ESG DEPARTMENT

Yaroslava Vrubel
+7 982 282 9682
vrubel.ys@mmk.ru

 

Communications Department

Dmitriy Kuchumov  
+7 (499) 238-26-13
kuchumov.do@mmk.ru

Oleg Egorov
+7 (499) 238-26-13
egorov.oa@mmk.ru

 

KEY UPCOMING EVENTS IN 2021

Financial calendar

 

27 July

Virtual conference for retail investors,

VTB Capital

28-29 July

Non-deal roadshow (NDR), online

 

 

 

 

 

 

  



ISIN: US5591892048
Category Code: MSCM
TIDM: MMK
LEI Code: 253400XSJ4C01YMCXG44
Sequence No.: 118522
EQS News ID: 1221814

 
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