PIK Board to Consider Delisting and Buyout
The board of directors of PIK-SPZ will consider delisting the company's shares and a buyout of minority shareholders' stakes at 551.4 rubles per share on September 7, following a major shareholder's demand to acquire remaining shares. The move follows a prior offer in April, adjusted after central bank intervention.
Consensus
- The board of directors of PIAK-SPZ will meet on September 7 to discuss delisting and the buyout of minority shareholders' shares.
- The price for the buyout of minority shares is set at 551.4 rubles.
- The majority shareholder, AO 'Nedvizhimye aktyvy,' has submitted a request to acquire shares it does not yet own.
- The majority shareholder owns more than 98% of PIAK's shares.
- Minority shareholders own less than 2% of the company.
- The register of shareholders eligible for the buyout will be finalized on October 20.
- The buyout price corresponds to the offer made by 'Nedvizhimye aktyvy' in April.
- The delisting process involves removing shares from the stock exchange, ending their public trading.
Points of divergence
- PIK's shares on Moscow Exchange fell 3.86% to 552.5 rubles, with a low of 548.3 rubles. — kommersant
- The market price dropped to 554 rubles, a loss of 3.7%. — vesti
- PIK's net profit for the first half of the year was 14.68 billion rubles, down 2.2 times year-on-year, with revenue down 11.6% to 290.14 billion rubles. — vedomosti
- The Bank of Russia intervened in setting the offer price, requiring it to be no lower than the average market price over the past six months, leading to a 17% increase from the initial 473.15 rubles. — interfax
- The April offer resulted in the acquisition of about 13% of shares by 'Nedvizhimye aktyvy'. — interfax
- Beneficiaries of 'Nedvizhimye aktyvy' are not disclosed, but companies affiliated with Sergey Gordeyev owned about 15% of PIAK at the end of 2024. — interfax
Coverage (4 sources)
- The Board of Directors of PIK will discuss the removal of shares from the Moscow Exchange — Коммерсантъ
- PIK shares plummeted after news of planned delisting — Вести
- The Board of Directors of PIK will consider the issue of delisting the company's shares — Ведомости
- PIK will delist — Интерфакс