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Sberbank of Russia (SBRCY)

Other OTC - Other OTC Delayed price. Currency in USD
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0.52000.0000 (0.00%)
At close: 10:49AM EDT
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  • D
    DP
    Receive an email from robinhood "PJSC Sberbank of Russia has announced an upcoming Termination."""" What is the meaning of this?
  • B
    Brandon
    It appears IBKR accept ordinary shares transfer. How about TD ameritrade clients tho? Anyone knows????
  • N
    Noah
    New announcement from JP Morgan
    This is the most important thing that I have found
    THE OFFICE OF FOREIGN ASSETS CONTROL (OFAC) OF THE U.S. DEPARTMENT OF TREASURY HAS GRANTED JPMORGAN A SPECIFIC LICENSE, WHICH EXPIRES ON JUNE 17, 2022, TO PERMIT AN ORDERLY WIND DOWN OF SBERBANK’S DEPOSITARY RECEIPT PROGRAMS. JPMORGAN WILL ACCEPT CANCELLATION REQUESTS UNTIL THE TERMINATION DATES, UNLESS OTHERWISE ANNOUNCED.

    https://api.markitdigital.com/jpmadr-public/v1/cms/document?cmsId=9e4aaafc746c4df5b54013eea46a120f
  • A
    AQUARIUS
    I still don’t understand how they expect us (ordinary US retail investors) to complete this bullmanure conversion within next 30 days without having accounts in Russia? Why such a short window? Only 30 days left? Maybe it could be possible under normal economic, financial, geopolitical conditions. In normal conditions conversion should be possible without leaving your own couch. But how are we suppose to do that under the current draconian sanctions, trade halts, extremely short deadlines, etc? Do they expect all of us to drop everything immediately, our normal daily lives, and go to Russia next week just to open an account? Because I’m not aware of how else to complete this conversion by Jun 17. For the OGZPY ADR foreign investors Gazprombank at least offered a solution to open limited accounts at the Gazprombank online in a simplified manner (without visiting Russia immediately), so Gazprom ADR holders can have Russian accounts at Gaprombank where to park their converted ordinary shares. Yet, this solution works for the Gazprom ADRs/shares only. The accounts will be limited and people cannot transfer to them any other company’s shares (like SBER, ) until you (or your power of attorney) complete the identification process by eventually visiting a branch in Russia in person. However, this is at least some kind of solution for the Gazprom ADR holders. Plus their ADR conversion deadline is August 2023 (!!!). That is full 15 months. Seems like a reasonable amount of time. Not some lousy 30 days for SBER. So, how are we suppose to complete this conversion by Jun 17? This is simply unrealistic in my opinion. Any thoughts?
  • P
    Pavel
    My broker Interactive Brokers wrote on my request to Convert Shares. What can i do? I loose my money?

    The wind down period for Bank Otkritie, Sovcombank PJSC, VEB.RF, VTB, Sberbank, and any entity owned 50% or greater by these sanctioned banks expires on 4:00 PM EST May 24, 2022. After that date, all trading in securities of these sanctioned banks will be fully restricted.

    Dear Mr. ,

    Please be advised we are not able to convert ADR/GDR into MOEX Stocks at the moment due to clearing issues with depositaries due to the sanctions put on Russian based securities.

    At the moment, we are actively working on finding a way out of this situation, as soon as there is more information, all customers will be notified in a separate message. We are also exploring options and opportunities for converting ADRs/GDRs from the London and New York exchanges into shares on MOEX

    Please Note: MOEX trading has resumed, but it is not available to IBKR clients as a result of ongoing restrictions imposed on foreign brokers by the Central Bank of Russia.

    Regards,
    IBKR Client Services
  • A
    Alen
    Just got my 2000 adr automatically converted to 8000 regular ones and my position is from 95% loss now 150% in profit
  • D
    D
    Trying to open a local account in RU with this: https://www.moex.com/a3490
  • u
    usa
    Stocks linked to Russia plunged following the outbreak of war and subsequent economic punishment meted out to the country, vindicating bearish wagers. But sanctions also made trading Russian securities almost impossible, leaving short sellers unable to exit their positions. The result? Investors who shorted -- sold borrowed shares with the intention of buying them back more cheaply before returning them -- are still borrowing, paying the associated fees indefinitely.
  • T
    Tony
    TDAmeritrade summary:

    - They refuse to make any DRS-direct registration for any Russian ADR as of this week. If you have other info please post your recent experience. No luck this week for me.

    - The foreign transfer route IMHO will NOT happen by May 25th. The department has no phone number and they are not responding to my foreign broker requests , most likely being overloaded and first-come-first-served.
  • s
    steven
    I called JP client services and all they said is they have no information about the shares being liquidated and said they will just be frozen but we don’t lose them. They did not seem to know what they were talking about. They said I would be able to transfer my share to JP Morgan from TD Ameritrade and they would hold them if I wanted….. makes no sense..
  • N
    Noah
    Tigran http://www.landmarkcapital.am/ you provide your info and transfer them the adrs then they convert them to ordinary shares.
    Landmark Capital
    www.landmarkcapital.am
  • T
    Tim
    Hey guys, what will happen if I do nothing to my shares and they terminate them?
  • P
    PaulJ
    The way I understand this to work is that if we do nothing with our ADR's the depository (J.P. Morgan) will sell our ADR's on the local market and provide us with a cash distribution.
  • D
    D
    Sberbank explains ADR conversion process: https://www.interfax.ru/business/840201
  • u
    usa
    For shorts, Being trapped in their bearish bets has also left borrowers facing the possibility that their winning wagers will be losers by the time they can get out. They need funds and stocks trading again to cover their positions, but that would likely only happen if the Russia-Ukraine war de-escalated and the outlook improved dramatically -- which could trigger a recovery in asset prices.
  • N
    Noah
    I am currently in talks with landmark capital in Armenia they said they have clearwater access and can convert the shares once transferred as Armenia is a neutral company. They gave me a long form to fill out and said after they want to video call to confirm and discuss. A Russian MOEX broker sent me to them, and I spoke to a representative of theirs on the phone in well spoken English.
  • J
    J. Chang
    Who is the transfer agent for SBRCY (Sberbank ADR)?
  • M
    Mike
    Hi, does anyone know if JPM will transfer my shares to Sberbank brokerage? I have account there, but Sberbank is on DNS list..
  • A
    Aileen
    My prediction? Russia will allow us to hold the stocks. It might be temporarily frozen but we’ll be allowed to convert later. I’m sure about it. Because the banks really don’t want to hurt their shareholders and Putin doesn’t want the market to go down from all the forced sales.
  • Y
    Yau
    anyone know Sberbank announced the DR cancellation notice yet? because I just found the information from other brokers? seem only Gazoprom announced