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Skadden Represents Gazprom on Singapore Stock Exchange Listing

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Skadden has represented JSC Gazprom in its June 17 listing on the Singapore Stock Exchange (SGX) through the introduction of up to 4 billion global depositary shares, representing up to 8 billion ordinary shares of JSC Gazprom.

According to the firm, this was the first listing "by introduction of depositary receipts on the exchange and the first listing by a Russian company on the exchange."

Gazprom, with a market capitalization of USD 99 billion, is one of the world’s largest energy companies. Its major businesses span geological exploration, production, transportation, storage, processing and sales of gas, LNG, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.

“This listing of Gazprom’s Global Depository Receipts is an important event for SGX and we are honored to host such a prominent company on our exchange. It will also add significantly to our mineral, oil and gas sector. We look forward to being both a capital raising and business platform for Russian companies expanding their business into Asia,” said Magnus Bocker, CEO of SGX.

Andrey Kruglov, Deputy Chairman of the Management Committee, Head of the Department for Finance and Economics of Gazprom, commented: “We are delighted to announce that Gazprom’s Global Depository Receipts have been granted an introductory listing on the Mainboard of Singapore Exchange. This listing marks a key milestone in Gazprom’s history and further demonstrates the importance of Singapore, and the wider Asia-Pacific region, for Gazprom’s business and future strategy. Gazprom’s first listing in Asia enables us to broaden our global shareholder base in one of the world’s most dynamic financial markets. Gazprom, which benefits from its unique and unrivaled reserve base, geographical scope and transmission infrastructure to be the secure and reliable energy supplier of choice in Europe and Asia, will build on this extended shareholder base to further cement its position as a truly global company”

 

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