Support The Moscow Times!

Uralkali Approves Share Issue

Uralkali's board of directors voted Monday to issue 1.2 billion new shares to facilitate a merger with fellow potash miner Silvinit, Uralkali said in a statement.

The new shares each have a par value of 0.50 rubles, and a total par value of 600 million rubles ($20.58 million). The additional Uralkali shares are expected to be converted into Silvinit ordinary and preferred shares. The conversion ratio for Silvinit's ordinary and preferred shares is 0.0075 and 0.019, respectively, per Uralkali ordinary share.

A total of 1,565,151 ordinary shares of Silvinit are planned for acquisition by Uralkali. The board also voted to appoint Vladislav Baumgertner chief executive and to eliminate the position of Uralkali president.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.