Norilsk Nickel has completed its share split – Kommersant
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Norilsk Nickel (MOEX: GMKN) announced the completion of the stock split with a factor of 100. As a result of the split, the number of ordinary shares amounted to 15,286,339,700 pieces, reported company. Plans to conduct a stock split were announced in November 2023.
“The management initiated the split to increase the investment attractiveness of the company and this is a serious step towards the retail investor. Splitting the shares will make them more liquid and accessible to a wide range of people,” said Norilsk Nickel President Vladimir Potanin.
According to a press release from Norilsk Nickel, one share with a par value of 1 ruble was converted into 100 shares of the same category with a par value of 0.01 ruble each.
Norilsk Nickel explained that last year the company’s share price exceeded the average price of the securities of the main blue chips by several dozen times, which makes it difficult for a significant number of retail investors to buy them. The split program is designed to increase stock liquidity and reduce volatility. Moscow Exchange limited trading in Norilsk Nickel shares during the split. Trading will resume on April 8.
Read more about crushing in the Kommersant article. “Norilsk Nickel announced split and dividends”.
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