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 company was founded in 1996 and had its headquarters in
Bermuda. Almost all Vostok Gas's holdings were
American depositary receipts (ADRs) in
Russia's
Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the larges ...
, which made the company owner of approximately 1.5% of Gazprom. The company was listed on the
Stockholm Stock Exchange and was a member of the
OMX Stockholm 30 index between July 2006 and January 2009.
At a December 2008
extraordinary general meeting, shareholders approved the
liquidation
Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are redistrib ...
of the company as proposed by the company's board. The board had stated that the market
volatility caused by the
2008 financial crisis
8 (eight) is the natural number following 7 and preceding 9.
In mathematics
8 is:
* a composite number, its proper divisors being , , and . It is twice 4 or four times 2.
* a power of two, being 2 (two cubed), and is the first number of t ...
had removed the attractiveness of a
holding company 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 publicly traded securities. The depositary receipt trades on a local stock exchange. Depositary receipts facilitates buying shares in f ...
s in Vostok Gas.
References
External links
Official website{{in lang, en
Defunct companies of Bermuda
Gazprom
Oil and gas companies of Bermuda