Russia’s Globaltrans Delists From London, Relists In Astana

The major Russian cargo carrier Globaltrans is to leave the London Stock Exchange (LSE) on November 22, and has already relisted in Astana, Kazakhstan. The company is one of Russia’s largest rail transport groups, and is focused exclusively on the freight logistics sector in Russia and the Commonwealth of Independent States (CIS), providing services for metals, mining, and petroleum and other industries. At the end of December 2023, its fleet included 65,644 units of rolling stock: 70% being universal gondola cars, and 28% tank cars.

With the Russian trade in these products growing significantly with China, (which borders the CIS) Globaltrans had produced a strong set of results in 2023. Their turnover had increased by 11% to ₽105 billion (US$1.1 billion) while profits had risen to ₽38 billion (US$391 million) up from ₽25 billion in 2022. Their last annual report can be seen here.

Globaltrans has not been sanctioned, yet stated that in London, the company faced an ongoing difficult regulatory environment and stressed there was no possibility of resuming trading on the LSE in the foreseeable future.

On October 22, Globaltrans was listed on Kazakhstan’s AIX exchange. Trading in its securities was launched under the ticker GLTR, ISIN: US37949E2046. It began trading at a value of 1:80 and has subsequently risen to 1:90 as at close of trade on October 31.

Globaltrans stressed that AIX will become the only platform on which the freight carrier’s GDR will now be traded. The main shareholders of Globaltrans are Aqniet Capital of Kazakhstan, with 26.7% of shares, and Marigold Investments Ltd with 11.5% of shares, whose beneficiary is Globaltrans co-founder Andrey Filatov.