15 Nov 2017 19:12

Gutseriev's Safmar Group buys 2% of Tatneft shares - source

MOSCOW. Nov 15 (Interfax) - Mikhail Gutseriev's Safmar Group has purchased roughly 2% of shares in Tatneft , a source close to Safmar told Interfax.

The shares were acquired over the course of the year in stock exchange transactions. Safmar purchased both ordinary and preferred shares.

Safmar has no plans to increase its stake in Tatneft and views the share purchases as a financial investment.

Tatneft charter capital totals 2.326 billion rubles and is split into 2.179 billion ordinary and 147.509 million preferred, one-ruble shares. In other words, Safmar may own about 46.5 million Tatneft shares.

Tatneft's market capitalization amounted to 1.1 trillion rubles on November 15, based on Moscow Exchange quotations.

It was reported earlier that Tatneft plans to pay interim dividends (for 9M 2017) for the first time in 13 years. The board of directors recommended payment of 27.78 rubles on ordinary and preferred shares. Shareholders of record on December 23 are eligible to receive the dividend. In other words, Safmar stands to receive 1.292 billion rubles on its Tatneft stake.

Svyazinvestneftekhim, which is owned by the government of Tatarstan, has 29.3% of Tatneft shares via a subsidiary, Investneftekhim, among others.