Russia’s Lukoil to buy back shares at 5,450 rbl per share

MOSCOW, Aug 19 (PRIME) -- Lukoil will buy back about 42% of the 82.9 million shares its shareholders submitted for a buyback at 5,450 rubles per share, the company said in a statement on Monday.

“The company received applications for 82,891,133 shares during the public offer period, including an application for 36,624,079 shares from Lukoil Securities Limited (a 100% subsidiary of the company),” Lukoil said.

In June, the board of directors of the company approved reduction of Lukoil’s shareholder equity by buying 35 million shares.

“The acquisition of shares will be implemented on a pro data basis. The shares will be acquired at a price of 5,450 rubles per share and paid for through August 28, 2019. The acquired shares will be cancelled immediately upon their delivery on the Lukoil treasury account, which will result in a reduction of Lukoil’s charter capital to 715 million ordinary shares,” the company said.

(65.9961 rubles – U.S. $1)

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