PJSC MMC Norilsk Nickel completed the procedure of share splitting on April 4, and trading in the company’s securities will resume on the Moscow Exchange on April 8.
“Today we have completed a landmark project for the company: the stock split procedure took place. Our management team initiated the stock split to increase the investment attractiveness of our shares and this is a serious step towards the retail investors. Stock split will make liquidity and accessibility to a wide range of investors. We believe that this will contribute to the equity story of Norilsk Nickel and the development of the Russian capital markets in general,” said Nornickel President Vladimir Potanin.
The shares have been converted on April 4, 2024 in accordance with the records in accounts opened by the registrar responsible for the register of Nornickel’s shareholders. As a result of the split, one ordinary share with a nominal value of RUB 1 will be converted into 100 ordinary shares with a nominal value of RUB 0.01 each. Following the stock split Norilsk Nickel’s authorised capital amounts to 15,286,339,700 ordinary shares.
Trading is scheduled to resume on 8 April, 2024.
Earlier, the company's Vice President for Investor Relations and Sustainable Development Vladimir Zhukov noted that the capitalization of Norilsk Nickel is about than two trillion rubles, some 4% of the entire Russia's stock market valued at more than 60 trillion rubles.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
