We continue to accept the US and global depositary receipts (ADRs and GDRs) issued by non-sanctioned Russian companies for the assets’ conversion into local shares. As of August 23, 2023, the following depositary receipts are accepted for conversion according to the indicated deadlines*:
*Please note the DR Cancellation Pro-Ration Factor, which is applied by the agent as a consequence of incomplete reconsolidation. For example, if the Pro-Ration Factor is 88%, then a stock holder holding 100 receipts for a stock with a standard ratio of 1:1 will receive 88 local stocks rather than 100.
Converting ADRs and GDRs into local stocks gives their holders an opportunity to exchange the assets, which are currently prohibited from trading on the US and European stock exchanges.
The shares obtained as a result of the conversion will be the property of the investor and will be
stored in his or her brokerage account in Freedom Finance Europe. The shares are listed with the Russian National Settlement Depository (NSD), and are currently blocked from trading. However, if European residents regain their access to the Moscow Stock Exchange in the future, they
will be able to sell the stocks. If dividends are paid on the shares, a client will receive the payouts in a special account.
How to convert securities**:
- Go to your Member Area on the Freedom24 website
- In the left menu, select Account Settings — Conversion of Securities
- You will see a list of ADRs/GDRs that are eligible for conversion
- *The broker's commission for converting deposit receipts into local stocks is 3%.
If you have questions:
- Go to your Member Area on the Freedom24 website
- In the left menu, select Chat with Support — Requests and Suggestions.
Related material: How to transfer securities to Freedom Finance Europe
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We continue to accept the US and global depositary receipts (ADRs and GDRs) issued by non-sanctioned Russian companies for the assets’ conversion into local shares. As of August 23, 2023, the following depositary receipts are accepted for conversion according to the indicated deadlines*:
*Please note the DR Cancellation Pro-Ration Factor, which is applied by the agent as a consequence of incomplete reconsolidation. For example, if the Pro-Ration Factor is 88%, then a stock holder holding 100 receipts for a stock with a standard ratio of 1:1 will receive 88 local stocks rather than 100.
Converting ADRs and GDRs into local stocks gives their holders an opportunity to exchange the assets, which are currently prohibited from trading on the US and European stock exchanges.
The shares obtained as a result of the conversion will be the property of the investor and will be
stored in his or her brokerage account in Freedom Finance Europe. The shares are listed with the Russian National Settlement Depository (NSD), and are currently blocked from trading. However, if European residents regain their access to the Moscow Stock Exchange in the future, they
will be able to sell the stocks. If dividends are paid on the shares, a client will receive the payouts in a special account.
How to convert securities**:
- Go to Menu (1)
- Select Non-trading orders (2)
- Select Conversion of Securities (3). You will see a list of ADRs/GDRs that are eligible for conversion
- *The broker's commission for converting deposit receipts into local stocks is 3%.
