Comments for The Long Run Plan

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by tr

tr — Thu, 16 Mar 2023 19:53:21 +0000

I have submitted all the documents for a Gazprom ADR conversion to Interactive Brokers in October 2022 and received the following confirmation: Dear Mr Rohwer Please be advised we have requested the cancellation of your ADR. Please note Russian DR conversion is done on a best effort basis, no estimates are available on the duration and no notification is sent on successful conversion. We will contact you should more information or documentation be required. Regards Philip M IBKR Client Services IBCS 2022/10/25 19:43:48 Since then I heard nothing. I asked about the status more than a month ago, but that ticket is still open with no reply. Are there any reports of a successful conversion with other brokers? I asked about the option to transfer the ADRs to another broker, but IB also claims, that this is not possible.

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by julien971

julien971 — Fri, 16 Dec 2022 15:13:11 +0000

Hello, so my Gazprombank account type C is opened, but they told me they can’t receive Gazprom ADRs and do the conversion. Instead I can only send the shares already converted (Gazprom PJSC). Is it the case to someone else? Someone has managed to convert their ADRs recently? thanks

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by Yinon Arieli

Yinon Arieli — Tue, 22 Nov 2022 20:01:37 +0000

In reply to lgao_us. Around 1 month

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by lgao_us

lgao_us — Tue, 22 Nov 2022 15:29:23 +0000

In reply to dwerkema. I just submitted my transfer request to Fidelity and TD Ameritrade for LUKOIL, giving them all the information of my verified Gazprombank DEPO account. Fidelity told me it can take a long time for the transfer, it can be a month or two. How long did it take for you to do the transfer. Thanks for any info.

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by satish_godse

satish_godse — Fri, 18 Nov 2022 06:32:18 +0000

In reply to dwerkema. Thank you for your response. But my question is for earlier step. (Step 1) - Fidelity transfers the ADRs to BNYM's DTC account. (Step 2) - BNYM takes these ADRs and then convert to shares in a give C Type depo account. My question is for (Step 1). Fidelity is unable to transfer ADRs to BNYM's DTC account because they are saying DTC settlement instructions are not correct. This is what I provided to them - DTC No: 2504; Account No. 016201; Operation Type: FOP. So just wondering if you guys provided the same details?

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by dwerkema

dwerkema — Thu, 17 Nov 2022 12:23:19 +0000

In reply to satish_godse. To complete the transfer they need details about your Type C receiving account. This is what I had for my account at Gazprombank: BROKER/BANK EXECUTING CANCELLATION: Gazprombank (Joint Stock Company), National Settlement Depositary Swift Code: GAZPRUMM BIC: 044525823 ACCOUNT NUMBER IN RUSSIA TO RECEIVE UNDERLYING SHARES: (Your Type C account #) Type C Depo Account NSDR ID: MC0009800000 NSD code: ML9508300025/00000000000000000 BENEFICIAL OWNER NAME: (Your name - exactly the same as on your Type C account registration)

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by satish_godse

satish_godse — Thu, 17 Nov 2022 00:28:40 +0000

Hi. I provided the following DTC transfer information to Fidelity. They said there are issues with transfer and asked me to confirm the DTC number etc. Can someone please confirm if the following transfer details are okay- DTC No: 2504; Account No. 016201; Operation Type: FOP; Receiving Firm’s Name: ???????? (What should I put here?). Also, this is the note Fidelity Transfer Team left – “The DTC information on the request is invalid. Please provide the firm’s DTC settlement instructions in order to facilitate this transfer request. The requested assets are not in the account.”

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by Yinon Arieli

Yinon Arieli — Wed, 16 Nov 2022 08:27:36 +0000

In reply to lgao_us. I sent you the details by email.

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by lgao_us

lgao_us — Tue, 15 Nov 2022 15:13:36 +0000

In reply to Yinon Arieli. do you have the name and number of the lawyer you used for opening the account? Thanks.

Comment on How to convert Gazprom ADRs and other Russian DRs to local shares by dwerkema

dwerkema — Tue, 15 Nov 2022 13:03:17 +0000

In reply to lgao_us. My guess is your lawyer is probably very busy with other aspects of conversions and they know it's easy to open a Type C account and GPB has been processing them fairly quickly. An additional benefit is you will save on legal fees.