TNK-BP admitted to trading at MICEX and RTS exchanges
OJSC TNK-BP Holding announced today that it has received approval from MICEX and RTS for its shares to be admitted to trading at these Russia?s main stock exchanges. Trading of both TNK-BP Holding ordinary and preferred shares will commence on 6 December 2010.
Admission to trading enables the Company ordinary and preferred shares to be traded on the regulated market. The shares previously have been traded at RTS Board only (over-the-counter market). TNK-BP Holding has a free float of approximately 5.3%.
The Company shares have been admitted to the section "Unlisted shares admitted to trading" at RTS and MICEX and will trade under the tickers TNBP for ordinary shares (state registration number 1-01-55034-Е issued 13.01.2005, ISIN RU000A0HGPM9) and TNBPP for preferred shares (state registration number 2-01-55034-Е issued 13.01.2005, ISIN RU000A0HGPN7). The market ticker at RTS T+0 for ordinary shares is TNBPG, for preferred shares - TNBPPG.
Jonathan Muir, Chief Financial Officer of TNK-BP, said: "We are delighted that the shares of our main operating subsidiary, TNK-BP Holding, will be traded at both of Russia?s leading stock exchanges. This move will improve liquidity of TNK-BP Holding existing shares and act to the benefit of our minority shareholders."
Roman Goryunov, CEO at RTS Stock Exchange commented: "The move of OJSC TNK-BP Holding securities from the OTC market onto the regulated on-exchange market is clearly a positive sign for the market: another major Russian issuer is becoming public and transparent, and a new promising product on offer will become an additional investment vehicle for market participants. We hope in the foreseeable future TNK-BP Holding stocks will join the list of the Russian blue chips."
Marinа Medvedeva, General Director of MICEX Stock Exchange, added: "TNK-BP Holding shares will expand the Russian blue chip stocks universe. It is our hope that admitting TNK-BP Holding shares to trading at MICEX will raise their liquidity and increase trading volumes at the exchange."
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