Still hope for Russia ECM as EN+ given brief reprieve

Deripaska_PA_230x150
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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial

Want to learn more? View subscription options