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TNK Announces Its Plans For Issuing ADRs

Russia » Economics

The Tyumen oil company (TNK) will issue ADRs no earlier than in 2003, President of the company Semyon Kukes declared at a press conference in Ryazan today. TNK was palnning to issue ADRs in 2002, but it's impossible now as the process of consolidating assets and issuing common stocks is in progress now. At the same time, the current situation on the market is unfavorable for issuing ADRs now, Kukes stressed.

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