Russia's Etalon Group board offers to buy back 10% of GDRs

MOSCOW, Mar 24 (PRIME) -- The board of directors of Russian developer Etalon Group has suggested the shareholders to approve a buyback program for up to 10% of the global depositary receipts (GDRs) of the company, Etalon Group said in a statement on Tuesday.

The period for which the bought securities can remain on the accounts of the company is no more than two years. Each GDR has 1 underlying share.

The shareholders will consider the proposal at an annual general meeting.

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