TMK’s shares grow by 14% to 61.54 on US unit sale

MOSCOW, Mar 25 (PRIME) -- The shares of pipe producer TMK rose by 11.49% to 61.54 rubles as of 11:00 a.m., Moscow time on Monday, after an announcement of sale of a U.S. subsidiary IPSCO Tubulars to Tenaris for U.S. $1.209 billion on March 22, according to the Moscow Exchange.

TMK rose 25.17% to a peak of 59.08 rubles on March 22. The Moscow Exchange suspended trade in ordinary shares of the company due to the abrupt rise.

(63.7705 rubles – U.S. $1)

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