Each Etalon GDR represents one equity share. The shares trade on the London Stock Exchange under the symbol ‘ETLN.’
The Etalon GDRs and equity shares have not been registered under the US Securities Act of 1933 and may not be offered or sold in the US.
Etalon Group head of investments Dmitri Boulkhoukov said it’s an exciting time for them, given the land sourcing opportunities in Russia and expansion capital that they have raised.
Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipt Division, said there have been four DR capital raisings out of Russia this year totaling more than $4bn, with Etalon Group the largest IPO so far.
"We will bring our successful history of working with Russian depositary receipt issuers to support Etalon’s efforts to expand its profile among global investors," Cole-Fontayn said.
