MHP buys back 2.3% of equity for USD 27 mln
3 July 2012
MHP (MHPC LI), the CIS’ leading poultry producer, acquired 2.48 mln GDRs (equivalent of 2.3% of shares outstanding) since October 2011, the company reported today. The average buyback price was USD 11.07 per DR (3% below the current market), implying the company spent a total of USD 27.5 mln. Following the buyback, the company’s free float decreased to 18.1%, according to our estimates.
