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5 months ago
BRIEF-Russia's PIK homebuilder to buy back $255 mln of GDRs ahead of delisting
March 27, 2017 / 6:14 AM / 5 months ago

BRIEF-Russia's PIK homebuilder to buy back $255 mln of GDRs ahead of delisting

March 27 (Reuters) - PIK Group says:

* PIK has agreed to purchase 49,990,198 GDRs at a price of $5.101 per GDR, for a total cost of $255 million.

* The GDRs that PIK has agreed to purchase represent approximately 62.6 percent of the company's issued GDRs as of March 24, 2017.

* As announced on March 13, 2017, an application will be made with the UK Listing Authority to cancel the listing and trading of the GDRs on the London Stock Exchange.

* Delisting is expected to take place on June 15, 2017. Source text for Eikon: Further company coverage: (Reporting by Moscow Newsroom)

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