Date: 7 months ago   Category: Industry

The board of directors of Pipe Metallurgic Company has approved the program of share repurchase of stocks up to $30 million — Rambler News Service


The board of directors of the Pipe Metallurgical Co. (PMC) has approved the program of share repurchase of stocks (buyback) up to $30 million. It is said in the statement of the company. "The board of directors during the meeting which has taken place on September 10, 2018 has approved the program for share repurchase of stocks of the company, including depository receipts (GDR) which present such actions at the open market, for total amount to $30 million" — Pipe Metallurgic Company reports. The program has to be realized in 2018-19. The maximum quantity of actions and the GDR which are subject to repayment won't exceed 29,27 million common stocks, or 7 317 500 GDR. Pipe Metallurgic Company notes that the redeemed papers will keep on balance of group, and the decision on them will be made before end of the buyback program. Pipe Metallurgic Company is one of the leading world suppliers of pipe production for the oil and gas sector. The company unites 27 enterprises located in Russia, the USA, Canada, Romania, Oman and Kazakhstan and two research centers in Russia and the USA.

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