November 23, 2015 / 12:28 PM / 3 years ago

Russia's Uralkali approves delisting from LSE, launches market buyback

MOSCOW (Reuters) - Russia’s Uralkali (URKA.MM) URKAq.L, the world’s largest potash producer, said on Monday its board of directors had approved delisting of its global depository receipts (GDRs) from the London Stock Exchange and announced an open market buyback.

The delisting is expected to become effective on Dec. 22, Uralkali said in a statement. The buyback programme in respect of shares and GDRs will not exceed 6.5 percent of company’s share capital and will be conducted between Nov. 24 and March 31.

Reporting by Polina Devitt; editing by Vladimir Soldatkin

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