Lenta says to issue 91,302 shares for employee stock option plan
MOSCOW, Jul 12 (PRIME) -- Russian retailer Lenta will issue 91,302 shares in the form of global depositary receipts (GDRs), or 456,510 GDRs to use them in a stock option plan for its employees, Lenta said in a statement on Thursday.
The issue accounts for 0.1% of Lenta’s shareholder equity.
The company also filed a bid to the London Stock Exchange asking it to allow the new GDRs for trade. It plans to distribute 347,510 new GDRs among employees immediately after the bourse’s approval and the remaining 109,000 GDRs from time to time, the company said.
Lenta’s largest shareholders are TPG Group with a 33.97% stake and the European Bank for Reconstruction and Development with a 7.37% stake, while free-float is 57.51%.