MMK
|
10 February 2008 г. | 17:32
MMK does not rule out the possibility of a share buyback
OJSC MMK does not rule out the possibility of a buy back of its own shares on the balance of one of its subsidiaries because the Company considers the share price to be significantly underestimated due to the influence of external macroeconomic factors, which are irrelevant to the Company’s fundamentals.
The timing and extent of buyback operations will depend on prevailing market conditions and the on-going trading price of OJSC MMK shares.
Additional Information on MMK:
The Magnitogorsk Iron and Steel Works OJSC (MMK) is among the world’s largest steel producers and one of the leaders of Russia’s steel industry. The Company is a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of value added goods.
In 2007 the Company produced 13.3 mln tn of crude steel, and 12.2 mln tn of commercial products. Sales under US GAAP amounted to $8.2 bln, with net profit standing at $1.8 bln.
In 2007 the Company produced 13.3 mln tn of crude steel, and 12.2 mln tn of commercial products. Sales under US GAAP amounted to $8.2 bln, with net profit standing at $1.8 bln.
Комментарии могут оставлять только зарегистрированные (авторизованные) пользователи сайта.