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Public Joint Stock Company Gazprom (OGZPY)

Other OTC - Other OTC Delayed Price. Currency in USD
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1.10000.0000 (0.00%)
As of 10:45AM EDT. Market open.
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  • S
    Sheung
    Gazprombank Conversion Instructions
    Links to C account opening forms
    @Mario_111 This is the page you need

    https://www.gazprombank.ru/docs/drcancellationeng/
  • S
    Sheung
    In Germany there is discussion about launching NS2.
  • A
    AQUARIUS
    @Ethan said "Also zero expenses for opening but 1% expensr every year to withold.".
    If we dont get dividends this year and maybe next year too, how do pay for these expenses? Every year?
  • S
    Sheung
    From Gazprombank:

    Information for non-residents of the Russian Federation - holders of depositary receipts representing shares in PJSC Gazprom

    According to information published on 14.06.2022 by Clearstream Banking[1], an international settlement and clearing center, the process of transfer of depositary receipts with Russian underlying shares to the accounts of the depositary receipts issuers has been put on hold until further clarifications from appropriate authorities concerning the effect of EU restrictive measures.
    Due to this, before submitting the Form for opening a Type C securities account using a simplified procedure to Gazprombank’s depository, we recommend to have a consultation with the broker, who carries out record-keeping of your depositary receipts, about a possibility to convert your depositary receipts into shares. If the broker, who carries out record-keeping of your depositary receipts, confirms that the conversion of the depositary receipts is impossible, then before deciding on opening a Type C securities account using a simplified procedure, we recommend to apply for a legal advice.
    Additionally, please be informed that National Settlement Depository (NSD), which is a senior accounting system for Gazprombank, and in which Gazprombank has a nominee account for registering Shares, beginning from 03.06.2022 has been included in the sanctions list of persons[2] as per Annex I to Regulation (EU) No 269/2014[3].
    If your broker has confirmed the possibility to convert the DRs with due consideration of the above, before deciding on the conversion of the depositary receipts with depositing shares to the Type C securities account opened by you with Gazprombank, we ask you to assess the risk associated with having a securities account with Gazprombank and keeping shares in it.
  • E
    Ethan
    To all: I went to Russia and just finished the personal id procedure and expanded the C account to all the list of my Russian DRs (more than 10 different positions). I can verify staff at the office of the depo account were super friendly and helpful. It takes about 2 days from 3 to 4 hours per day to fill and sign all docs. It is very bureacratic but it worked. I can verify zero expenses for the opening of both current and type C acct. I can verify stocks cannot trade but dividends are credited into a ruble acct. I can verify there is an online app plus pwrformance reports when asked. All docs signed in Russian. A PoA cannot be used with them. All gas to be done after presenting yourself with a notarized passport that costed me 1500 rubles and done in Russia to a private translation office (I used MTA). Raiffeisen Russia can do this also without personal ID. They only took me Gazprom Novatek and Norilsk though. Also zero expenses for opening but 1% expensr every year to withold. I can verify all our shares already in Russua at NSD.
  • S
    Sheung
    Gazprombank C account update

    Regarding the use of the C account:

    - Someone here below posted the fees for the C account from Gazprombank´s website. There are no charges for opening and maintaining the account.

    - Today I called Gazprombank and asked for clarifications. The C account is only for deposit, not trading. However, once you receive the shares there, then you can open a normal brokerage account and trade. So, the fees that apply would be the same as for any client.

    - As for the Depositary Receipts, I asked about conversion using the new procedure. The representative asked the manager and advised I inquire by email. Email sent. Hopefully they´ll provide instructions.

    Getting through to someone proved to be very complicated. Had to try many numbers. The representative I spoke with at the end, however, was courteous, dedicated and spoke English very well.
  • S
    Sheung
    Zerohedge
    Top German Trade Union Head Warns Entire Industries May Collapse Amid Worsening Energy Crisis
  • M
    Michael Gallardo
    ok, so what do we get if we dont convert? Ive heard 10 ,50 percent, Ive also heard moex market value. This is the real question as whether we convert or not. Dividends are not a consideration.
  • B
    Brian Disandro
    Got a bid from lawyer, to go to GPB to unfreeze my Type C account with POA signed by me and couried and notarized a whopping $5,500.00. POA will be notarized in USA then in Russia. It's almost worth the trip. I need to take leave from work and get visa.
  • P
    Paolo
    i received this fron GazpromBank..

    "Hello,
    Please be informed that channels for remote depository services for individuals are not provided.
    The depository's clients - individuals are serviced at the Bank's offices providing depositary services.Until your identification accordance with the requirements of the AML / CFT Legislation of the Russian Federation, a number of operations on such accounts are limited, incl. receiving a statement.

    After your identification, statements on securities accounts are provided in accordance with the Bank GPB (JSC) Depository Terms and Conditions.
    In order to receive a statement, you or your Representative (acting on the basis of a duly executed power of attorney containing the necessary powers) with an identity document will need to apply to the Bank's office, accompanying clients - individuals providing depository services to submit an instruction to receive a statement on a securities account, and then to receive an original statement.

    Please be advised that we cannot comment on this issue, because the law has not yet been adopted, and the mechanism for applying the procedure has not been brought to the attention of the depositories by the regulator. "

    can you help me to understand?
  • e
    emre
    My ADRs have been converted to regular moex shares by my swiss bank where i do my business.
  • S
    Sheung
    Gazprom is up 6.3% now. Sellers finished selling?
  • F
    Fabio
    a doubt .. maybe behind the dividend block there is the need to finance the war. who can verify that the declared investments do not go there ..
  • S
    Steve-RationallyBullishOn1181
    It is not surprising that Gazprom has decided to not pay dividends this year. Besides the war issue, that company also has the issue of being able to pay certain shareholders while not being able to pay other shareholders due to sanctions. I have said from the beginning, the only way this ends positively for gazprom ADR holders is if there is a peace agreement reached in this war, and a normalizing of relations between Russia and the G7.
  • S
    Sheung
    Conversion: Broker or C account?

    If given a choice after conversio, where is it better to hold the ordinary Gazprom shares: in your brokerage account in the west or in the C account in Russia?

    What are the pros and cons?

    The broker may add an extra layer of risk if there are systemic problems in the financial system or if there are new sanctions. On the other hand, it would not require the complications of activating and managing the Russian account.

    It is not clear to me why and how some institutions have been able to convert, but some can't. Not sure either whether there will be a choice as to where to hold the shares.
  • M
    Michael
    The dividend was cancelled because Gazprom will cut gas sales to Europe so they are preserving cash. It will take years to set up more pipelines to Asia so sales will be much lower this year.
  • S
    Sheung
    @Brandon Could you please share what fees Gazprombank charges for a C account? And can you access the account through the app?
    I'd really appreciate your feedback.