Mriya upgrades GDR listing to Entry Standard at FSE

Mriya Agroholding (MAYA GR) announced it will upgrade the listing standard for its GDRs to Entry Standard on the Frankfurt Stock Exchange starting from May 4, 2012. The move follows new regulations issued by the exchange that eliminate the current listing standard for all Ukrainian companies with GDRs and require moving their listing standard to one with higher reporting requirements or delisting.

Yegor Samusenko: Mriya is first Ukrainian company with GDRs on the FSE to accomplish the move to a new listing standard. To the best of our knowledge, among other FSE-listed names, Sintal Agriculture (SNPS GR) and TMM Real Estate (TR61 GR) are also leaning toward upgrading their listing, but they have yet to officially comment on the issue, while MCB Agricole’s (4GW1 GR) management told us they were considering different options.