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Phosagro shares down over 4.5% on Moscow Exchange

It is reported that mineral fertilizer production increased by 6.7% in the first nine months of 2022 year-on-year

MOSCOW, December 16. /TASS/. The price of Phosagro shares lost 4.63% at the beginning of the main trading session on Moscow Exchange on Friday to 5,970 rubles per share, according to trading data as of 10:00 am Moscow time.

As of 10:32 am, the price of Phosagro shares was down by 3.91% at 6,015 rubles.

Earlier on Friday the company said that it would invest around 64 bln rubles ($990 mln), including for major overhauls, this year, and over 250 bln rubles ($3.8 bln) in the next five years.

Mineral fertilizer production increased by 6.7% in the first nine months of 2022 year-on-year, reaching 8.1 mln tons, the company said, adding that production could rise by almost 5% to over 10.9 mln tons by the end of this year.

Moreover, shareholders of Phosagro approved a decision on the payment of interim dividends in the amount of 318 rubles ($4.9) per ordinary share at an extraordinary meeting held on December 8.