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Phosagro says GDR conversion facility re-opened

Reuters - UK Focus

MOSCOW, Aug 3 (Reuters) - Russian fertiliser producer Phosagro said on Monday that its agent Citigroup (Swiss: C.SW - news) Global Markets Deutschland had reopened a facility that allows conversions between Phosagro's global depositary receipts (GDRs) and ordinary shares.

Phosagro said in June that the facility had been suspended in a move related to the seizure of 170,500 shares that were stolen from Phosagro's former top manager Maxim Volkov in 2014.

(Reporting by Andrei Kuzmin, writing by Jason Bush)