Moscow Exchange will suspend trading in Norilsk Nickel shares on April 4-7 due to splitting
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Moscow Exchange (MOEX: MOEX) from March 22 will limit settlement codes for ordinary shares of Norilsk Nickel (MOEX: GMKN). Trading will be suspended from April 4 to April 7. The decision is related to the upcoming split of the company’s shares.
From March 22 to April 2, settlement codes that provide for the execution of transactions no later than April 2 will be acceptable. From April 3, settlement codes T0 and Z0 are acceptable. There are no valid billing codes for April 4-7. From April 8, restrictions are lifted. Dates are estimates and may change, notes the message Moscow Exchange.
Norilsk Nickel announced plans to split its shares by a factor of 100 in November 2023. The process is designed to maintain stock liquidity. It is expected that crushing will end in the second quarter of 2024.
Read more about crushing in the Kommersant article. “Norilsk Nickel announced split and dividends”.
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