Cherkizovo Group intends to cancel the listing of its global depositary receipts on the London Stock Exchange main market. The company said it had decided to consolidate the free-float and trading of its ordinary shares on the Moscow Exchange as part of its new capital markets strategy and having considered the limited trading liquidity of its GDRs on the London Stock Exchange. It said the decision would also reduce the company's administrative and reporting costs. The company said that in the context of its new capital markets strategy it was also evaluating a range of alternatives available to it, including a potential equity offering of ordinary shares on the Moscow Exchange.
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