Lukoil becomes first Russian company on LSE

Abstract

Lukoil has proved that a Russian company can cope with international standards of disclosure by becoming the first Russian issuer to successfully list on the London Stock Exchange (LSE). The Russian oil company wanted to list a new product, retail depositary receipts. However, the risk was too big for retail investors and so the plan for retail depositary receipts was scrapped in favour of normal American depositary receipts.