Russian companies, global banks could reap windfall from depositary receipt delisting
17 April 2022 - 09:42
Russian companies and global banks including BNY Mellon, Deutsche Bank, Citigroup and JPMorgan could profit if Moscow moves to de-list Russian companies' depositary receipts from foreign exchanges, according to two people familiar with the matter.
The potential windfall is due to the fees that bank issuers of depositary receipts can contractually charge investors when they cancel the product...
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