Magnit redeemed its own shares for 37.4 billion rubles from foreign holders

Magnit has completed the buyback of its own shares from non-resident shareholders in the amount of RUB 37.4 billion, which is 16.6% of the company’s outstanding shares. 5% of Magnit’s shares are still in the infrastructure of the European depository Euroclear, their redemption continues, the press service reported (.pdf) companies.

“In total, 16,910,664.8 shares have been purchased from shareholders who held shares through the Russian depository and settlement infrastructure as of the date of this publication, which represents approximately 16.6% of all issued and outstanding shares. The total amount of funds directed under the tender offer to shareholders who owned shares through the Russian depositary and settlement infrastructure is equivalent to approximately RUB 37.4 billion. at the acquisition price,” Magnit said in a statement.

The press service said that in the future, Magnit may buy back shares from foreign holders who, for one reason or another, did not take part in the above-mentioned tender offer. The price at which Magnit will be ready to buy securities from non-residents will remain the same – 2215 rubles. per share, the company said.

July 26 “Magnet” announced, which received applications for the redemption of about 21.5% of the securities in circulation (21,905,943.8 shares) and will satisfy them all. The redemption was carried out by a subsidiary of Magnit Alliance, payments for shares were made from 3 to 9 August. Company established the limit for the repurchase of shares of non-residents at the level of 29.8%.

Erdni Kagaltynov