Russian operator MTS will change its current ADR ratio from May 3.
The current 1 ADR per 5 common shares will be changed to 1 ADR per 2 common shares.
MTS ADR holders at the close of business on April 28 will receive 1.5 ADRs for each ADR held.
Mikhail…
Russian operator MTS will change its current ADR ratio from May 3.
The current 1 ADR per 5 common shares will be changed to 1 ADR per 2 common shares.
MTS ADR holders at the close of business on April 28 will receive 1.5 ADRs for each ADR held.
Mikhail Shamolin, President and CEO of MTS, said: “MTS’ ADR price has increased more than 60% since the Company’s last effective stock split in January 2005. Changing the ADR ratio will bring the price more in line with our peer companies and support liquidity. We feel this will allow our ADRs to appeal to a broader investor base and provide additional flexibility to current shareholders in managing their portfolios.”