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. Last Updated: 07/27/2016

Sidanko ADR in 1998

MOSCOW -- Russian oil company Sidanko plans to issue American Depositary Receipts in early 1998 and a convertible bond later this year, company vice-president Dmitry Maslov said Monday.

"Having completed the issue of convertible bonds [by year's end] and having converted them into a [single company] share, our program is to carry out a further share issue which will be aimed at foreign investors above all," Maslov said. "[This] will be done most probably through issuing level one ADRs."

Sidanko said last year it would issue bonds in 1997 and look at the possibility of increasing share capital to 26.17 billion rubles from 9.3 billion.