19 Aug 2013 15:01

Novatek spends another almost $1 mln on own shares

MOSCOW. Aug 19 (Interfax) - Independent gas producer Novatek bought back 80,000 of its own shares, including in the form of GDR, for around $965,000 in the period August 12-16, a company statement says.

The average price per GDR, which represents ten shares, was $120.66.

Novatek's board of directors approved a shares and GDR buyback program worth $600 million last June, and the company kicked off the program on November 16. It recently extended the program to June 7, 2014.