Norilsk Nickel has purchased another 0.0004% of shares in the framework of buy back

The affiliate of Norilsk Nickel MMK – NN-Invest Ltd – in the framework of the buy back purchased another 569 shares (0.0004%) having increased its stake to 0.685% in the registered capital of Norilsk Nickel from 0.6846%, MMK reports.

NN-Invest, which holds the buy back and is the final buyer of papers, on June 30th signed an agreement according to which until the end of the year it undertakes to buy shares of Norilsk Nickel for the amount not exceeding $500 mln at the Central Bank’s currency exchange rate at the moment of purchase.

Norilsk Nickel at the beginning of the year announced of a possible buy back aiming for supporting the listing and increasing the capitalization. The company planned to spend its own and borrowed funds for the realization of the program and then settle all the purchased shares. Deutsche Bank was chosen as a consultant. The major shareholders of MMK didn’t plan to participate in the buy back.