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LSE lifts halt on En+'s London-listed GDRs available to U.S. investors

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LSE lifts halt on En+'s London-listed GDRs available to U.S. investors
FILE PHOTO: A wall sign with the logo of aluminium and power producer En+ Group is seen on the facade of a building in central Moscow, Russia February 13, 2018. REUTERS/Sergei Karpukhin   -   Copyright  SERGEI KARPUKHIN(Reuters)
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LONDON (Reuters) – The London Stock Exchange lifted the suspension on En+ Group’s London-listed global depositary receipts (GDRs) available to U.S. investors, a spokeswoman said on Monday after Washington dropped sanctions on the Russian company.

The halt was lifted at 0900 GMT, she said. Data shows the GDRs, which are worth $9.7 each, have not yet traded.

U.S. President Donald Trump’s administration on Sunday lifted sanctions on the core empire of Russian tycoon Oleg Deripaska, including aluminium giant Rusal and its parent En+, despite a Democrat-led push to maintain them.

Trading in En+‘s other London-listed GDRs did not stop under the sanctions, which were imposed in April last year, but they have not traded since Aug. 14. They are worth $5.4 each, down from $9.5 before the sanctions.

GDRs are certificates that allow UK and international investors to hold shares in En+.

(Reporting by Josephine Mason; Editing by Kirsten Donovan)

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