INA cancels GDR listing in London

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Croatian oil and gas company INA -- a unit of Hungarian peer MOL -- yesterday announced the cancellation of its global depository receipts (GDR) on the London Stock Exchange. 

Early in August, the company's management decided to cancel the listing because the number of outstanding GDRs had substantially decreased, from 450,000 to 181, Croatian news agency HINA said.

The company said at the time that trading in GDRs had practically stopped and that no transactions had been made in the last twelve months, the agency said.

INA GDRs were listed on the London Stock Exchange in 2006. INA shares trade on the Zagreb Stock Exchange. MOL owns just under half of INA's shares.

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