- POSTED: 17 Jun 2014 20:00
Russian energy company Gazprom JSC has been granted an introductory listing for its global depository receipts on the SGX mainboard.
SINGAPORE: Russian energy company Gazprom JSC has been granted an introductory listing for its global depository receipts (GDR) on the Singapore Exchange (SGX) mainboard.
The shares underlying Gazprom's GDR are currently listed on the Moscow Exchange.
SGX CEO Magnus Bocker said in a statement on Tuesday (June 17) that the listing of Gazprom's GDR "would add significantly to their mineral, oil and gas sector."
He also hopes that more Russian companies would pick SGX as their platform for expansion into Asia.
Gazprom has a market capitalisation of S$124 billion (US$99 million) with major businesses in geological, production, processing and sales of gas and LNG.