NASDAQ to delist Russia’s VimpelCom owner ADRs from 100 index

MOSCOW, Dec 15 (PRIME) -- The U.S. stock exchange NASDAQ will remove American Depositary Receipts (ADRs) of VimpelCom Ltd., the sole owner of Russian mobile operator VimpelCom, from its NASDAQ-100 Index with the change to become effective prior to market opening on December 21, the bourse said in a statement, seen by PRIME on Tuesday.

NASDAQ said it removed VimpelCom Ltd. from its 100 index due to re-ranking.

Ilya Pitersky, an analyst at VTB Capital, told business edition RBC that the move results from a decrease in the company’s capitalization, which has shrunken 73% since October 2013, when VimpelCom Ltd.’s ADRs were included into the NASDAQ-100 Index instead of securities of computer maker Dell.

On Monday, VimpelCom Ltd.’s ADRs closed at U.S. $3.04.

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