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Norilsk Nickel completes stock split

"As a result of the conversion one stock with the par value of one ruble was converted into one hundred stocks of the same category having the par value of one kopeck each," the company informed

MOSCOW, April 4. /TASS/. Norilsk Nickel has completed the stock split and as a result one corporate stock was converted into 100 stocks of the same category, the Russian mining and metals company said.

"The stock conversion was performed on April 04, 2024 according to data of records at accounts opened by the register that keeps the register of Norilsk Nickel stock holders, as of the conversion date. As a result of the conversion one stock with the par value of one ruble was converted into one hundred stocks of the same category having the par value of 0.01 ruble (one kopeck) each," the company informed.

The quantity of ordinary stock after the split amounts to 15,286,339,700 units.

"We have completed today a milestone project for the company: the stock-splitting procedure took place. The management has initiated the split to increase the investment attractiveness of the company and this is a serious step towards retail investors. The stock split will enable making them more liquid and available to a broad range of persons. We hope this step will contribute to further development of the shareholder base of Norilsk Nickel and the Russian stock market on the whole," the company said, citing President of Norilsk Nickel Vladimir Potanin.

Norilsk Nickel shareholders passed the resolution earlier at the extraordinary meeting to split ordinary stocks of the company with the factor of one hundred for the purpose of increasing their attractiveness for Russian investors and boosting liquidity at the Moscow Exchange.

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