OREANDA-NEWS. November 06, 2009. Sberbank looking to convert around 15% of its stocks into GDRs. Sberbank of Russia wants to convert roughly 15% of its current shares into GDRs, head of Sberbank’s committee for minority relations Anton Danilov-Danilyan said.
According to him, Sberbank will be prepared to review the issue of when to launch a GDR program at least in three months. The lending institution mulls executing the so-called program zero, i.e. without an additional share issue, which should dramatically raise its stock liquidity.