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Article: Russia's URALCHEM planning to convert all subsidiaries to single share.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- July 20, 2009
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Russia's URALCHEM planning to convert all subsidiaries to single share
MOSCOW. July 20 (Interfax) - Russian fertilizer producer URALCHEM is planning to convert all its subsidiary companies to a single share prior to floating its stock on the market, a company representative told Interfax.
One of the main steps in entering the market is unifying the value of all the holding's shares. Shareholders in Berezniki Azot will consider a share split with a 1:100 ratio at an extraordinary general meeting on August 17, which would result in their nominal value being reduced to 0.01 rubles from 1 ruble. The subsidiary will then swap its shares for stock in the ...