Vostok Gas Ltd (named Vostok Nafta Investment Ltd prior to 24 May 2007) was an investment company mainly focused on oil and gas from the former

Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

. The company was founded in 1996 and had its headquarters in

Bermuda Bermuda is a British Overseas Territories, British Overseas Territory in the Atlantic Ocean, North Atlantic Ocean. The closest land outside the territory is in the American state of North Carolina, about to the west-northwest. Bermuda is an ...

. Almost all Vostok Gas's holdings were American depositary receipts (ADRs) in

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

Gazprom PJSC Gazprom ( rus, Газпром, , ɡɐsˈprom) is a Russian State-owned enterprise, majority state-owned multinational Energy industry, energy corporation headquartered in the Lakhta Center in Saint Petersburg. The Gazprom name is a contract ...

, which made the company owner of approximately 1.5% of Gazprom. The company was listed on the

Stockholm Stock Exchange Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange (), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As of March 2021, a total ...

and was a member of the

OMX Stockholm 30 The OMX Stockholm 30 (OMXS30) is a stock market index for the 30 most traded stocks on the Nasdaq Stockholm stock exchange. It is a price return and capitalization-weighted index A capitalization-weighted (or cap-weighted) index, also called ...

index between July 2006 and January 2009. At a December 2008

extraordinary general meeting An extraordinary general meeting, commonly abbreviated as EGM, is a meeting of members of an organisation, shareholders of a company, or employees of an official body that occurs at an irregular time.' The term is usually used where the group wo ...

, shareholders approved the

liquidation Liquidation is the process in accounting by which a Company (law), company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as :wikt:wind up#Noun, w ...

of the company as proposed by the company's board. The board had stated that the market volatility caused by the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

had removed the attractiveness of a

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

for Gazprom ADRs. During liquidation, shareholders received Gazprom ADRs in exchange for their Swedish

depositary receipt A depositary receipt (DR) is a negotiable financial instrument issued by a bank to represent a foreign company's Public company, publicly traded Security (finance), securities. The depositary receipt trades on a local stock exchange. Depositary rec ...

s in Vostok Gas.

References

External links

Official website
{{in lang, en Defunct companies of Bermuda Gazprom Oil and gas companies of Bermuda Companies formerly listed on Nasdaq Stockholm