20 May 2013 14:48

Novatek buys more of its stock for $3.8 mln

MOSCOW. May 20 (Interfax) - Independent gas producer Novatek has bought another 370,780 of its own shares on the open market, including in the form of global depository receipts (GDR), for about $3.8 million, a company statement says.

The buys were made during the period May 14-17. The average market price per GDR, representing ten company shares, was $102.7.

Last June, the Novatek board of directors approved a $600 million program for buying back shares and GDR. On November 16, Novatek announced the program's start. The stock buy-back could continue until this June 7.