MD Medical shares rose in price amid plans to change its listing on the Moscow Exchange

The cost of global depositary receipts (GDRs) of MD Medical during trading on the Moscow Exchange on October 4 increased by 5.54% to a daily maximum of 881.3 rubles. against the backdrop of news about plans to change the listing on the Moscow Exchange.

As of 10:30 Moscow time, their cost was 867.6 rubles. (+3.9%), the Moscow Exchange index amounted to 3,154.29 points (+0.33%). Since the beginning of the year, quotes have increased by 105%, over the same period the benchmark has grown by 46%.

MD Medical group of companies, which manages a network of clinics “Mother and child“, reported about plans to change the listing status on the Moscow Exchange to primary by registering the prospectus of existing GDRs with the Bank of Russia.

The Company notes that the procedure for changing the listing status will not require additional actions from GDR holders. The Company’s GDRs remain admitted to trading on the regulated Moscow Exchange market.

The company’s GDRs are traded under the ticker symbol MDMG on the main market of the Moscow Exchange since 2020, they are included in the first level quotation list. MD Medical has had a primary listing on the main market of the London Stock Exchange (LSE) since 2012. From 22 June 2023, the receipts were removed from the UK FCA list at the company’s request and were no longer admitted to trading on the LSE.

On August 31, MD Medical announced that its shareholders approved transfer of company registration from Cyprus to Russia. It will continue its activities in the special administrative region under the name “International Company Public Joint Stock Company MD Medical Group Investments.” At the same time, she will continue to conduct the same activities.

In addition, MD Medical has changed its depository bank for the GDR program. RCS Issuer Services S.AR.L became the new depository instead of JPMorgan Chase Bank NA

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