Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has completed delisting of its global depositary receipts (GDRs) from the London Stock Exchange (LSE), the company said in a statement on March 16.
Nordgold offered to buy the GDRs at $3.45 per security and said it could spent a total of up to $118 million on the buyback.
The company’s capital consists of 370.396 million common shares with a face value of 1 euro each. GDRs cover 51.336 million shares, of which majority shareholders own 17.006 million shares. This means that Nordgold could buy back up to 34.329 million shares, or 9.27% of the charter capital. (Prime/Ukrainian metal)
