Azernews.Az

The London Stock Exchange has included Sberbank's stock in its official list, following the sell-off of a 7.58 percent stake in Russia's largest state-controlled lender, the LSE said on Monday, RIA Novosti reported.

The London bourse admitted Sberbank's Global Depositary Receipts (GDRs) and American Depositary Receipts (ADRs), each representing four ordinary shares.

Russia's Central Bank closed a deal on September 19 to sell a 7.58 percent interest in Sberbank for 93 rubles ($3.04) per share and $12.16 per Global Depositary Receipt for $5.2 billion, while retaining a 50 percent plus one share stake in what is described as Europe's third largest bank after HSBC and Santander.

The sale of a stake in Sberbank is part of the Russian government's large-scale privatization plan to sell off state assets.

Ahead of the sale of the 7.6 percent stake, Sberbank launched in June 2011 its long-awaited American Depositary Receipts program and selected the Bank of New York Mellon as its depositary.

After official listing on the LSE, both Sberbank's ADRs and GDRs are shedding about 1 percent of their value.

As of 11:33 a.m. Moscow time (07:33 GMT), Sberbank's ADRs, which previously traded through the regulated market segment of the International Order Book (IOB), fell one 1 percent to $12.08 per security while the lender's GDRs, which were sold in Sberbank's second public offering (SPO), lost 1.1 percent to $12.02.