Date: 9 months ago   Category: Industry

By Pipe Metallurgic Company has chosen the company of VTB Group for the program of share repurchase of stocks up to $30 million — Rambler News Service


Photo: Viktor Pogontsev/Russian Look "Pipe Metallurgical Co." (PMC) will attract the VTB Capital Broker company to implementation of the program of share repurchase of stocks (buyback), the metallurgical company has reported. "Pipe Metallurgic Company the Broker" for implementation of the program of acquisition in the open stock market of the company approved by the board of directors of Pipe Metallurgic Company will attract "VTB Capital. Stock acquisition within the program on behalf of the company will be carried out on adjustable trading floors according to requirements of the applicable legislation" — it is said in the statement. Before Pipe Metallurgic Company has reported about plans for repayment up to 29,3 million actions or up to 7,3 million GDR for the sum up to $30 million in 2018-2019. The exact number of the acquired papers will depend on dynamics of stock quotations and market conditions during the period of implementation of the program. The acquired shares and the GDR will be on balance of group. The decision will be made on the acquired papers until the end of implementation of the program. The group of Pipe Metallurgic Company unites 27 enterprises in Russia, the USA, Canada, Romania, Oman and Kazakhstan. The total amount of shipment of pipes in 2017 was 3,8 million tons. The greatest share in structure of sales of the company is occupied by the cut oil and gas pipes shipped to consumers in more than 80 countries of the world. Stocks of Pipe Metallurgic Company address on the London Stock Exchange and at the Moscow Exchange.

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