NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by PJSC “LUKOIL” (“LUKOIL”), one of the world’s largest oil and gas companies, as the successor depositary bank for its sponsored American Depositary Receipt (ADR) programs.
LUKOIL’s ADRs are traded on the London Stock Exchange under the symbol “LKOD” and in the U.S. over-the-counter (OTC) market under the symbol “LUKOY.” Each ADR represents one LUKOIL common share. LUKOIL is based in Russia and its underlying common shares are listed on the Moscow Exchange. Sberbank of Russia will provide custody of the local underlying shares.
“We are very pleased to further expand our cooperation with Citi through its appointment as the successor depositary bank for our ADR programs,” said Alexander Matytsyn, CFO of LUKOIL. “Citi's proven track record as one of the leading depositary banks should support further development and improvement of the programs to the benefit of our ADR holders.”
“We are honored to be appointed successor depositary bank for LUKOIL’s ADR programs,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s global presence and investor relations expertise, we are confident our powerful platform will enable the continued success of LUKOIL’s ADR programs and provide best-in-class service to its ADR holders.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 61 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.
For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.
LUKOIL (LSE: LKOD, MOEX: LKOH) is one of the largest publicly traded and vertically integrated oil and gas companies in the world with proved hydrocarbon reserves of 16.4 bln boe and production of 2.2 mln boe per day. LUKOIL is the 2nd largest producer of crude oil in Russia and it operates a fully integrated chain from oil and gas production to retail sales of petroleum products.
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.
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