Nornickel shares have been traded in the Russian stock market since 2001. Since 2014, the shares are included on the First Level quotation list of the Moscow Exchange (ticker: GMKN).

In 2001, Nornickel issued American depositary receipts (ADRs) to represent its shares. Currently, shares are convertible into ADRs at a ratio of 1:10. The number of ADRs traded on stock exchanges is not constant, as depositary receipt holders may convert their securities into shares and vice versa.

Nornickel is included in key Russian and a number of international indices.

Type Shares (ordinary) ADRs (10 ADRs = 1 share)
Registered number 1–01–40155-F n/a
Amount 158,245,476
Custodian Registrar
IRC – R.O.S.T., nominee holders
The Bank of New York Mellon as depository, VTB Bank (PJSC) as custodian
ISIN RU0007288411 US55315J1025
Key trading platforms Moscow Exchange London Stock Exchange (OTC section), OTC Markets (the US OTC market)
Share and ADR performance on stock exchanges
Item 2018 2019 2020
MMC Norilsk Nickel shares on the Moscow Exchange
Low, RUB 9,170 12,993 15,500
High, RUB 13,349 19,890 24,056
Year-end price, RUB 13,039 19,102 23,696
Market cap as at the period end, RUB bn 2,063 3,023 3,750
MMC Norilsk Nickel ADRs on the London Stock Exchange
Low, USD 14.9 18.8 19.5
High, USD 21.2 31.5 35.4
Year-end price, USD 18.8 30.6 31.2
Market cap as at the period end, USD bn 29,687 48,344 49,373
Source: Nornickel’s estimates based on the stock exchange prices
Nornickel share price and MOEX Index in 2020 (%)
Nornickel ADR price and stock indices in 2020 (%)
Source: Bloomberg


IRC – R.O.S.T. is the Company’s registrar. The Shareholder’s Personal Account service developed by the registrar, has enabled shareholders, including those owning shares via nominal holders, to participate in general meetings via e-voting ballots. To get access to the Personal Account, shareholders need to contact an IRC – R.O.S.T. office. Individual shareholders with a verified Public Services Portal account can access their personal account remotely. The access procedure for the Shareholder’s Personal Account is detailed on the registrar’s website.

Shareholder rights

All shareholders enjoy equal rights and treatment in their relations with Nornickel, in particular the rights to:

  • participate in General Meetings of Shareholders and vote on all matters within their competence, unless otherwise provided for by Federal Law No. 208-FZ On Joint Stock Companies dated 26 December 1995
  • receive dividends if the General Meeting of Shareholders passes the relevant resolution
  • receive part of Nornickel’s property in case of its liquidation
  • have access to information about Nornickel’s operations.

Nornickel’s Regulations on the General Meeting of Shareholders detail procedures to convene, prepare and conduct its general meetings.

The Annual General Meeting of Shareholders is held once a year, between 1 April and 30 June of the year following the reporting year. General Meetings of Shareholders other than the Annual General Meeting of Shareholders are considered extraordinary meetings. They are convened as per resolution of the Board of Directors at its discretion, or at the request of the Audit Commission, Nornickel’s auditor, or shareholders owning at least 10% of Nornickel voting shares as of the date of the request.

Shareholders can exercise other rights as prescribed by the federal laws On Joint Stock Companies and On the Securities Market, as well as other regulations of the Russian Federation.