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Gazprom’s board to consider buying shares
Global Banking & Finance Review®
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MOSCOW (Reuters) – The board of Russian natural gas giant Gazprom said on Tuesday that it will consider buying shares of the company at a meeting scheduled for Sept. 13.
MOSCOW (Reuters) – The board of Russian natural gas giant Gazprom said on Tuesday that it will consider buying shares of the company at a meeting scheduled for Sept. 13.
It did not elaborate in the regulatory filing.
Several Russian companies, such as oil producer Lukoil and retailer Magnit, have announced plans to buy shares from foreign investors, who were deprived of the ability to trade in Russian securities following Western sanctions over Russia’s conflict with Ukraine and Moscow’s counter-measures.
It was not immediately clear whether Gazprom’s announcement may mean it is also considering such a move.
(Reporting by Vladimir Soldatkin; Editing by Sandra Maler)
A share buyback occurs when a company purchases its own shares from the marketplace, reducing the number of outstanding shares and potentially increasing the value of remaining shares.
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, ensuring accountability and transparency in its operations.
Foreign investors are individuals or entities from one country that invest in assets or businesses located in another country, often seeking to diversify their portfolios.
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