Magnit received applications to buy out 7.8% of its shares following a tender offer
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PJSC “Magnit” (MOEX: MGNT) received 7,899,569 shares from shareholders for redemption as part of an additional tender offer. This represents approximately 7.8% of the company’s total issued and outstanding shares, the company said. press service “Magnet”.
As a result of the tender, the share of the buyer, as well as its affiliates, in Magnit will not exceed 30% of the issued shares. The repurchase of shares was carried out by a subsidiary of Magnit Alliance LLC, which is wholly owned by the retailer.
The shares are offered for redemption by retail investors from Asia, the European Union, North America, Australia and other regions, as well as by institutional investors. Applications have been received from investors from 19 countries, the company reports.
When purchasing shares, pro rata redistribution will not apply. The final number of shares will be known after completion of settlements with investors.
The company announced an additional tender in early October. She planned to buy back 8,023,740 shares, or up to 7.9% of the company’s total shares.
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