Magnit announced a new round of repurchase of 7.9% of shares from non-resident investors
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PJSC “Magnit” (MOEX: MGNT) announced the launch of the second round of share repurchase from non-resident investors. The retailer plans to buy back 8,023,740 shares (7.9%). According to message on the company’s website, the results of the offer will be announced before November 15.
Magnit Alliance LLC plans to buy back shares at the price of the previous round. “The buyer emphasizes that the announced size of the tender offer will not be increased even if demand from shareholders exceeds,” the statement says.
The deal also applies to foreign investors who hold the company’s securities through Euroclear Bank SA/NV. It is clarified that they can receive payment for shares in dollars, euros, yuan or rubles, including to their foreign bank accounts.
July 26 “Magnit” announced on receiving applications for redemption from non-residents of 21.5% of outstanding securities. On September 14, the company completed the repurchase of shares and acquired more than 21.903 million securities (21.5%) for 48.5 billion rubles. August 10 “Magnit” completed intermediate stage of repurchase of own shares from non-resident shareholders in the amount of RUB 37.4 billion. (16.6% of the company’s total outstanding shares).
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