Nyzhnyodniprovsk Pipe to buy back 6.25% of shares
9 October 2008
Nyzhnyodniprovsk Pipe’s (NITR: HOLD) supervisory board voted on October 6 to buy back 25 mln shares, which implies 6.25% of its charter fund. The company plans to buy shares at USD 1.4 per share, just below the current market price of USD 1.5 per share. Nyzhnyodniprovsk Pipe will entertain bids and repurchase the shares from November 17 to December 1. Nyzhnyodniprovsk Pipe said it plans to sell back the stake within the next year.
