Frankfurt Owners of depositary receipts for Russian shares fear for their capital – a consequence of the war. The investors are requested by their German custodian banks to exchange these rights for original shares. But there are various problems. New opportunities are now looming, both via Western banks and Russian houses. So far, however, there have been no reports of success.
“So far we have not known of any cases in which the exchange has been successful,” admits Marc Liebscher, lawyer and board member of the Protection Association of Capital Investors (SdK). In addition, affected investors complain about the lack of support from their German custodian banks, as the letters available to the Handelsblatt show.
And there are indications that the number of those affected is large. The protection association for securities ownership DSW reports more inquiries than on the subject of Wirecard. The great response from Handelsblatt readers to articles on the subject also shows the relevance for many investors.
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