Uralkali $1.12 billion share buyback programme

Overview:

• Russian potash fertiliser producer and exporter Uralkali completed the tender offer for a buyback of its shares and global depositary receipts (GDRs).
• The offer was for 468,750,000 common shares, representing 15.97% of the company’s issued and outstanding shares at $3.2 per common share and $16 per GDR, with the total purchase amount not to exceed $1.5 billion.
• Upon closing, the company successfully tendered for 11.89% of the shares and GDRs, representing $1.12 billion of stock.
• The offer was held through Cyprus-based Enterpro Services.

Jon Moore - Journalist