KIEV, Dec. 19 – National insurance company Oranta has launched the Regulation S Global Depository Receipt (Res S GDR) program aiming at raising the liquidity of the securities and enlarging the shareholders base.

According to the company, up to 24.99% of Oranta's shares can be converted to GDRs, that as of Dec. 3, 2008 constitute 7,477,008 shares.