Russia's Centertelecom to change ADR ratio

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MOSCOW, July 15 | Tue Jul 15, 2008 11:38am BST

MOSCOW, July 15 (Reuters) - Russian fixed-line telecom operator Centertelecom CTLK.MM said on Tuesday it would change the ratio of its American Depositary Receipts (ADRs) to ordinary shares to 1:25 from 1:100 to improve the stock's liquidity.

JP Morgan Chase, the company's depositary bank, said in a separate statement ADR holders will receive three additional ADRs for every one ADR held as of July 24.

In connection with the split, trading in the company's depositary receipts will be suspended from July 24 to Aug. 5.

Centertelecom ESMO.RTS is controlled by national telecoms group Svyazinvest and operates in central Russia.

On Friday, fixed-line operator North-West Telecom SPTL.MM, also controlled by Svyazinvest, said it would split its Level 1 ADRs on July 31 [ID:nL11123577]. (Reporting by Maria Kiselyova; Editing by Paul Bolding)

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