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Russian companies are starting to buy back its shares |
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Saturday, 20 September 2008 |
Against the background of the big drop in the quotations of the shares of Russian companies, many of which recently announced intentions to pursue the buyback of its shares, reported Interfaks.
President of Lukoil Vagit Alekperov declared intention of the whole management company to be included in the redemption of its shares in order to support the company in terms of the global financial crisis. In last week Alekperov and Vice President Leonid Fedun has already started buying up shares of Lukoil, thus their common shares in the company rose by 29.75 percent to 29.83 percent.
The largest in Russian financial corporation "System" also may soon decide to repurchase of stock market part of its shares became clear statement of the Chairman of the Board of Directors and major shareholder of the company Vladimir Evtushenkov.
During the week quotations of securities of "System" on the London Stock Exchange (LSE) are "survivors" its maximum fall of listing the company in February 2005 Today they are headed up, get up to 23.9 percent to 18.65 dollars Stock , but still far from its maximum value at the beginning of the year from 44 dollars to share.
Against this background, Assistant to the President of Russia 's report that provides for the simplified taxation of dividends and transactions in securities as an additional incentive for the formation of an effective financial market. |
Finances and Markets 
