When trading started on Tuesday, the value of securities of the Russian Uralkali rose 17%. The news that Rinsoco was going to buy the company’s shares at a price higher than the market, namely 120 rubles, caused this growth.
As of 10 a.m. Moscow time, the shares rose to the level of 117 rubles. The trading volume has amounted to 15.7 million.
Those who bought the shares before September 20 will be able to sell them at an attractive price.
The stock price began to grow rapidly at the end of last month. Starting from 87 rubles, the shares quickly reached 100 rubles. On July 23, they broke another record – 120 rubles. This price is the highest since 2018. Then the shares fell a bit. It should be mentioned that there are few shares in free float – only about 3.3%. If you take into account the price that Rinsoco offered for them, the buyout will cost 11.5 billion.
In June, Rinsoco acquired a 10.2% stake in Uralkali. They paid 89 rubles for each share. Securities were purchased from Sberbank Investments. As a result of a number of various transactions, now more than 96% of the shares belonged to one group – Uralchem, Uralkali and Rinsoco.
The company plans to complete “squeezing out” this year and optimize the structure. The company left the Moscow Exchange in 2017.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group