Detsky Mir buys out 58.26% stake from minority shareholders amid going private, shares jump over 20% on buyback news

MOSCOW. Sept 20 (Interfax) - Detsky Mir has bought out the 58.26% stake from minority shareholders as part of the company becoming a private business, the children's goods retailer said in a statement.

JSC DMFA, one of Detsky Mir's legal entities that has participated in the voluntary offer, has consolidated the stake, according to the statement.

Detsky Mir has paid 71.5 rubles per share to buy out the minority shareholders. Non-resident investors may also sell their respective shares for the same 71.5 rubles per share through special "C" type accounts [with restrictions on withdrawals], or non-resident investors may bypass the special "C" type accounts and sell their respective shares for 60.77 rubles per share at a 15% discount from the base purchase price.

Detsky Mir's shares have jumped over 20% on the Moscow Exchange on Wednesday morning on the heels of the news regarding the buyback, surging 21.5% to 79 rubles per share by 10:20 a.m. Moscow Time, with the highest transactions soaring 27.7% to 83 rubles per share, and trading volume exceeding 565 million rubles.