12 Mar 2019 12:34

Lukoil has spent $1.6 billion on buyback, bought 2.87% of shares

MOSCOW. March (Interfax) - Lukoil subsidiary Lukoil Securities acquired 298,155 shares in the oil company under its buyback program between March 4 and 8, or 0.04% of its charter capital, as well as 753,180 American Depositary Receipts (ADRs), or 0.1%, the company said in a statement.

A total of four share transactions were carried out on the Moscow Exchange at an average price of 5,637.38 rubles per share, along with five ADR deals on the London Stock Exchange and five on the Cboe Europe at an average price of $85.23 per receipt.

Since the start of the buyback, 17,308,976 shares totaling 2.31% of the issuer's charter capital have been repurchased, and 4,186,261 ADRs comprising 0.56% of charter capital are currently in the company's possession.

A total of $1.639 billion has been spent on the program.

Lukoil announced the program to buy back shares and depositary receipts on the open market for up to $3 billion on September 3. The program runs from September 3, 2018 to December 30, 2022.

The company said that $3 billion is equivalent to 44 million ordinary shares of the company or 5.2% of its share capital at the closing price of $68.16 per depositary receipt (representing one ordinary share) on the London Stock Exchange on August 29, 2018. One ADR represents one share.