May 17, 2011 18:20
Wimm-Bill-Dann Foods files applies to delist from NYSE
MOSCOW. May 17 (Interfax) - OJSC Wimm-Bill-Dann Foods (RTS: WBDF) has applied to delist the company's American Depositary Shares (ADS) from the New York Stock Exchange, the company said.
The last day the receipts will be traded will be May 26, the company said.
The ADS may continue to be traded on the OTC market after May 26.
The ordinary shares will be available for trading on the RTS and MICEX exchange for a certain period following the delisting from the NYSE. However, once the offer to acquire WBD shares from PepsiCola Bermuda Limited expires, the company plans to delist from the RTS and remove its shares from MICEX.
WBD will continue to be subject to Russian reporting, accounting, transparency and corporate governance standards unless it receives a waiver from the Federal Financial Markets Service (FFMS).
Every four WBD depositary shares are backed by one ordinary share.
There are currently fewer than 300 holders on record of WBD securities.
WBD, founded in 1992, is a leading dairy and juice producer. The company has 36 production facilities in Russia and the CIS and sales affiliates in 26 cities.
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