01 April 2014, Tuesday, 14:17

United Petrochemical Company will direct 959.8 million rubles for Ufaorgsintez stock repurchase

author: Elvira Latypova

JSC "United Petrochemical Company" (a part of Sistema JSFC) is to buy out 10 081 685 shares at minority shareholders of Ufaorgsintez by offer, representing 8.9 percent of the authorized capital, the issuer reported in the media.

Previously United Petrochemical Company, which owns 87.76 percent of the authorized capital  of Ufaorgsintez addressed to the minority shareholders with an offer to repurchase 11 970 164 shares at a price of 95.2 rubles per share. Thus, United Petrochemical Company will direct 959,8 million rubles for the acquisition of securities.

Ufaorgsintez manufactures organic synthesis products, polymer materials. It is Russia's largest producer of phenol.