Trading of RusHydro American Depositary Receipts Commences on OTCQX Platform
RusHydro (RTS, MICEX: HYDR; LSE: HYDR; OTCQX: RSHYY) Russia's largest power-generating company, today announced that its American Depositary Receipts (ADRs), each representing 100 RusHydro ordinary shares, began trading on the OTCQX trading platform on August 30, 2010.
Up to now, RusHydro's ADRs have been traded in the U.S. over-the-counter (OTC) market with prices published in the "Pink Sheets." To maintain a high level of transparency and disclosure in line with global best practice, RusHydro has joined the OTCQX International Premier market tier - the highest tier of the U.S. OTC market.
Investors can find current financial disclosure and real-time Level 2 quotes for RusHydro on www.otcqx.com and www.otcmarkets.com.
Currently ADRs account for 9.34% of the Company Charter capital.
"We are pleased to welcome RusHydro, Russia's biggest hydro-generating company, to OTCQX," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "As the fourth Russian company on OTCQX, RusHydro has chosen to provide its U.S. investors with quality disclosure and trading transparency on the highest tier of the OTC market."
BNY Mellon, which acts as depositary for RusHydro's ADR program, will serve as RusHydro's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on listing requirements.