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Russia's Uralkali increases share buyback programme to up to $2.26 bln
Says its board of directors approved increasing the previously-accepted programme to purchase the company's common shares and Global Depositary Receipts (GDRs) to 704,643,813 common shares, representing 24 percent of its share capital, up to a total purchase price of $2.26 billion.
As of Sept. 24, holders of Uralkali's common shares and GDRs had tendered 446,181,733 common shares and 31,363,901 GDRs, representing in the aggregate approximately 20.54 percent of issued common shares. That includes 367,001,986 common shares tendered by Chengdong Investment Corporation.
Says the repurchase programme will be funded from existing cash balance, external financing obtained and loans from group companies.