Aeroflot has launched a Tier 1 American Depositary Receipt (ADR) program. According to Aeroflot, the program will expand the range of investors, including investors on the US over-the-counter market. Deutsche Bank Trust Co. Americas has become the depositary bank for Aeroflot’s ADR program as well as the airline’s Global Depositary Receipts (GDRs). In December 2013, Aeroflot CEO Vitaly Savelyev told Bloomberg it aims to sell as much as 10% of its stock in 2014 to establish a ...

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