Norilsk Nickel redistributed a package of securities
MMC Norilsk Nickel redistributed its own shareholding between its subsidiaries. As a result of these actions, Norilsk Nickel Investments Limited (British Virgin Islands) became the owner of a 10% portfolio of MMC securities. Its share now amounts to 18470935 shares of Norilsk Nickel. Part of its assets to NN Investments was ceded by another subsidiary of MMC, Corbiere Holdings Ltd. (St. Christopher and Nevis Federation), whose portfolio fell to 13911347 shares.
Market analysts believe that such a redistribution of assets is associated with management plans of Norilsk Nickel to reduce the number of voting shares (to resolve existing conflicts between majority shareholders and stabilize the company's stock quotes on the exchange).
Recall that the Board of Directors of MMC discussed the issue of reducing the authorized capital of the company in the 10th of July this year. And the main holders of securities of Norilsk Nickel (Interros and RUSAL) supported the idea of paying off 10% of quasi-treasury shares of the company (by liquidation or merger of one of the subsidiaries) at the beginning of the year. Thus, in the near future we can expect that the balance of participation of shareholders of Norilsk Nickel in the capital of Norilsk Nickel Investments Limited will change in the near future.