Detsky Mir will launch a new share repurchase program at RUB 71.5. – Kommersant
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Detsky Mir Group of Companies (MOEX: DSKY) announced the launch of a new program for the repurchase of shares from minority shareholders, including trading on the Moscow Exchange (MOEX: MOEX). The redemption price is set at 71.5 rubles. per ordinary share, reported in press release.
The program is presented in addition to the share repurchase offer, which received to minority shareholders on October 5. Shareholder applications for the sale of shares as part of the mandatory offer will be accepted from October 9 to November 3. The payment period for shares will be 17 days from the expiration of the deadline for accepting the mandatory offer – December 14.
After Detsky Mir announced the start of a new buyback, the company’s shares on the Moscow Exchange grew by 9.3%, to 74.26 rubles. As of 11:05, shares slowed down and were trading at 70.94 rubles. (+4.42%).
In November 2022, Children’s World announced on business transformation from a PJSC to a private company. The need for reorganization in the company was explained by the difficulties that foreign investors faced when voting at general meetings. Transformation was completed September 20, 2023 after the repurchase of 58.26% of shares from minority shareholders.
60% of Detsky Mir shares are listed on the Moscow Exchange. August 1 “Children’s World” completed repurchase of more than 12 million own shares from minority shareholders through the Moscow Exchange.
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