Acron says plans to delist from LSE on May 25

MOSCOW, Apr 27 (PRIME) -- Russian fertilizer producer Acron plans to submit a request to the U.K. Financial Conduct Authority (FCA) to delist from the London Stock Exchange (LSE) from May 25, the company said in a statement on Wednesday.

"Acron hereby notifies of its intention to request the U.K. FCA to cancel the listing of the Company's global depositary receipts issued under Regulation S and Rule 144A (the ‘GDRs’), and to request the LSE to cancel the GDRs admission to trading on the LSE Main Market," Acron said.

The company said that the decision was made due to amendments to the Russian law forbidding the local companies to trade foreign depositary receipts.

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