Deutsche Bank launches GDR program for Sberbank shares

New York - based Deutsche Bank Trust Company Americas announced the launch of non-sponsored global depository receipts, each GDR comprising Sberbank shares allowed to be bought by non-residents. The first stage of this program will involve 4.9 percent of Sberbank shares, but this amount might be increased to 19.9 percent, the United Financial Group reported. Non-residents own 18 percent in Sberbank, according to this institution's data. UFG analysts consider this decision to be a positive factor for Sberbank, because this program might help Sberbank improve its liquidity profile and might result in a decrease in the discount rate for its shares. The new fare share price is $470, analysts believe.