Russia’s Cherkizovo Grp to buy back 2% of its common shares, GDRs
Russian meat processor Cherkizovo Group plans to buy back 2% of its common shares and global depository receipts (GDR) via the group’s affiliates, the group said in a press release Wednesday.
Cherkizovo Group said it had decided to buy back its shares and GDRs, as the group believed that the current market price of Cherkizovo Group’s shares did not fully comply with “the company’s fundamental value,” taking into account the group’s financial results.
Cherkizovo Group added it would buy the group’s shares at their market value, as of the date of the purchase.
The group’s current charter capital amounts to 430,693 rubles and is split into 43,069,355 shares with a face value of 0.01 rubles each.
The price of one Cherkizovo Group share closed at 675.3 rubles on the Moscow Interbank Currency Exchange (MICEX) Wednesday. The group’s GDRs were at U.S. $14.65 as of 7.15 p.m. Moscow time on the London Stock Exchange.
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