Gazprom shares rise by 27.5%, discrete auction launched

MOSCOW, Aug 31 (PRIME) -- The shares of Russian gas giant Gazprom rallied by 35.3% to 275.96 rubles, but then corrected to a rise by 27.5% to 260.27 rubles at 10:19 a.m., when the Moscow Exchange launched a discrete auction, as seen by PRIME in the bourse’s materials on Wednesday.

The upper bracket of the stock’s price range was increased several times.

Gazprom said on Tuesday that its board of directors had recommended paying 51.03 rubles per common share, or a total of 50% of the adjusted net profit, calculated under International Financial Reporting Standards (IFRS), in dividends for January–June.

(60.3677 rubles – U.S. $1)

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