Fieldfisher advises Kcell on LSE exit

The firm's leading Russia & CIS team is assisting the Kazakh telecoms operator with its strategic decision to terminate its GDR programme.
European law firm Fieldfisher has advised Kazakhstan mobile telecoms operator Kcell on the planned termination of its global depositary receipts (GDR) programme and the corresponding delisting of its GDRs from the London Stock Exchange (LSE) and Astana International Exchange (AIX).
 
The proposal was approved at Kcell's general shareholders meeting on 9 April. The GDR programme will be officially terminated on 12 June 2021 and the last day of dealings in its GDRs on the LSE and AIX is set for 14 June 2021.
 
GDRs are tradeable certificates that represent shares in a foreign company, which make it easier for international investors to trade the underlying shares.

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