Rusagro CEO buys $200,000 worth of company GDR in July
MOSCOW. July 18 (Interfax) - The chief executive of Russian agribusiness group Rusagro, Maxim Basov acquired 32,000 Global Depositary Receipts (GDR) of the company in July, the company said in a statement without disclosing the purchase price.
The current price of the company's GDR on the London Stock Exchange is $6.25, so the GDR purchased by Basov are worth $200,000.
As reported earlier, Basov bought 147,900 Rusagro GDR in January.
Rusagro bought back 1,290,999 GDR at an average price of $7.70 in September-November 2011 to support its share price. The company spent a total of $9.9 million on the buyback.
Rusagro is one of Russia's largest producers of pork, sugar, packaged margarine and mayonnaise. The group includes more than 35 agribusinesses, seven sugar refineries, the Oil and Fats Plant in Yekaterinburg and a number of trading branches. The group also controls 414,000 hectares of land.
The group is indirectly and directly owned by Senator Vadim Moshkovich and members of his family.
Rusagro carried out an IPO on the LSE in April 2011, selling GDR in Ros Agro. The company's current market capitalization on the LSE is GBP428 million.