“Magnet” did not see the connection between the fall of the ruble and the buyout of shares of foreign investors of the company
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The press service of Magnit stated that the preparation of the company for a deal to buy back its own shares from non-residents blocked on the Moscow Exchange could not affect the sharp depreciation of the ruble. The retailer assured that it has enough currency to buy shares.
“Magnit has enough multi-currency reserves to cover the offer to buy back shares from foreign shareholders and carry out normal operations. Over the past four weeks, the company has been purchasing currencies in an amount not exceeding the equivalent of $10 million a day, and mainly yuan,” the press service told TASS.
The last few days there has been a decline in the ruble. Today, June 30, for the first time since March 29, 2023, the euro exchange rate exceeded 97 rubles / €, the dollar exchange rate – 89 rubles / $. Total for June dollar has risen in price for 8.45 rubles. (+10.42%), euro – by 11.29 rubles. (+13.05%), yuan – by 95.2 kopecks. (+8.38%).
June 16 “Magnet” announced on plans to buy back its own shares: the company intends to purchase 30% of the capital from foreign investors blocked on the Moscow Exchange (at a price of 2215 rubles per paper). This is a 50% discount price that has been approved by the Legal Commission for the Control of Foreign Investments.
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