Still hope for Russia ECM as EN+ given brief reprieve

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By Sam Kerr
02 Aug 2018

Hopes rose this week of a revival for Russia’s equity capital markets when the US Treasury extended a key sanctions licence until October, allowing aluminium conglomerate EN+ to continue with a plan that would remove sanctions on the company.

The US Office of Foreign Asset Control (OFAC), issued a new licence on Tuesday to US holders of debt or equity in EN+, Rusal and Gaz Group, giving them until October 23 to divest their holdings.

This licence extension allowed for the Reg S Global Depositary Receipts of ...

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