Press release
Nizhny Novgorod, September, 2009. MICEX Stock Exchange has adopted a decision to have the common nominal non-document shares of VolgaTelecom switched from the A2 to A1 quotation list. This move was made on September 18, 2009 on the basis of an application by VolgaTelecom in accordance with the listing rules, access to placement and circulation of securities on ZAO MICEX Stock Exchange.
As noted by acting deputy general director for corporate development at VolgaTelecom Elena Neverova, “the addition of the company to Quotation List A1 will visibly expand the range of potential investors and boost share liquidity, since private pension funds, the RF Pension Fund and insurance companies are entitled to invest funds only in shares traded on Quotation List A.
At present, the common and preferred shares of VolgaTelecom are also listed on the RTS stock exchange. Since 1997 the company has had a level-1 American Depositary Receipts (ADR) program.
