Petrom had also traded on the LSE since 2016 when Fondul Proprietatea was still part of its shareholding structure.
„OMV Petrom S.A. (the “Company”) announces the effective delisting of GDRs from standard listing segment of the Official List (the “Official List”) of the Financial Conduct Authority and cancellation of trading on the Main Market of the London Stock Exchange plc (the “London Stock Exchange”). Further to its ad-hoc announcement on 24 August 2023, the Company hereby announces that: (i) all Regulation S global depositary receipts (ISIN US67102R3049) (Ticker: PETB); and (ii) all Rule 144A global depositary receipts (ISIN US67102R2058) (Ticker: PETR), (together, the “GDRs”), representing interests in ordinary shares of the Company having a nominal value of RON 0.1 each (the “Shares”), with one GDR representing one hundred and fifty Shares, are as of 8:00 a.m. (UK time) today, delisted from the Official List of the Financial Conduct Authority and the admission to trading of the GDRs on the Main Market of the London Stock Exchange has been cancelled,” reads the company’s statement.
ZF on September 15, 2023 analysed the situation of companies listed on the LSE, OMV Petrom (SNP), Romgaz (SNG), Electrica (EL) and the conclusion was that the much-vaunted dual listings, about which authorities and Fondul Proprietatea said several years ago would diversify the investor based and thus boost liquidity, have eventually proved to be a disappointment.
(English version by Catalina Apostoiu)