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canada goose clearance MOSCOW, Sept 19 uk canada goose (Reuters) Russia Sberbank stopped its depositary receipt (DR) canada goose uk shop conversion programme last week, in what analysts said might be part of its preparation for the planned sale of a 7.6 percent government stake. canada goose clearance

Canada Goose Parka The buy canada goose jacket cheap programme, launched in late Canada Goose Online June with canada goose black friday sale Bank of New York Mellon acting as depository bank, canada goose coats on sale allowed Sberbank to transfer up to 25 percent of its shares canadian goose jacket into canada goose factory sale DRs and was designed to allow foreign investors greater access to the bank stock. Canada Goose Parka

canadian goose jacket Graham cheap canada goose uk Marshall, head of the Russia CIS Depositary receipts division at BNY Mellon, confirmed analysts reports that Canada Goose Coats On Sale the programme had canada goose coats been halted Canada Goose online but declined to give the size of the completed programme. canadian goose jacket

buy canada goose jacket is quite normal for companies Canada Goose Outlet to limit the amount of stock they wish to have in DR form, even cheap Canada Goose before they reach any limit imposed by the local market regulator, he said in a written comments to Reuters on Monday. buy canada goose jacket

Canada Goose Outlet Sberbank canada goose clearance case. they plan an SPO (secondary public offering of stock) where the Central Bank of Russia will sell part of its stake. canada goose uk outlet Given uk canada goose outlet current unfavourable market conditions, the Canada Goose Jackets sale is postponed, but they have to canada goose clearance sale leave room in the DR programme for that Canada Goose Parka transaction when it happens in due course. Canada Goose Outlet

Canada Goose Jackets VTB Capital said in a note there was no canada goose uk black friday disclosure on the actual size of the completed programme but it buy canada goose jacket assumed that it did not exceed 10 percent. Canada Goose Jackets

Canada Goose sale Sberbank declined to comment canada goose on the report, while analysts said the Canada Goose sale move was logical. Canada Goose sale

Canada Goose online appears logical to canada goose store assume Sberbank set the cut off at around 15 percent of (Sberbank market capitalisation for conversion into DRs to give it some breathing space below the 25 percent capitalisation and the fact that it wanted to leave room for its placement of 7.6 percent, RenCap said. Canada Goose online

canada goose black friday sale Privatisation of the 7.6 percent canada goose uk outlet stake, worth some $4.5 billion, is part of a broader state asset sales drive, aimed at plugging Russia budget deficit and reducing the government role in the economy. canada goose black friday sale

cheap Canada Goose But weak markets have wiped around $1.5 billion off the value of the Sberbank stake since early August, leading Sberbank and its majority owner, the central bank, to postpone the privatisation until markets improve. cheap Canada Goose

canada goose Anton Karamzin, chief financial officer with Sberbank, told the Reuters Russia Investment Summit last week that a window to sell the stake may open before year end. (Reporting by Katya Golubkova; Editing by Lidia Kelly and David Holmes) canada goose.