25 Sep 2015 12:29

Uralkali boosts buyback to $2.26 bln, may buy up to 24% of shares

MOSCOW. Sept 25 (Interfax) - Uralkali is increasing the volume of its share and GDR buyback program to $2.26 billion, the company said in a statement.

As a result the company may buy back up to 24% of charter capital.

As at September 24, the company received applications for the purchase of 20.54% of charter capital, including from China's CIC (12.5%).

The acceptance of applications as part of the buyback program for a sum of up to $1.32 billion ends on Friday, September 25 at 1:00 p.m. Moscow time.

"The implementation of the purchase will be financed with the company's own cash funds, external financing and borrowings received from the group's companies," the statement said.