Stock market news

Magnitogorsk Iron and Steel Works logo 25.05.22
Magnitogorsk Iron and Steel Works

MMK notified Citibank's depositary about the termination of the GDR program. Receipt holders have the right to convert the securities into the company's ordinary shares. MMK asked the Russian Government to keep the GDRs, but was refused.
PPL logo 25.05.22

PPL has completed the acquisition of Rhode Island's main electric and gas company, The Narragansett Electric Company. The transaction amounted to $3.8 billion.
NOVATEK logo 25.05.22

Novatek began pre-project work on the construction of a natural gas liquefaction plant using the Arctic Cascade technology. The capacity of the plant consisting of two lines will be 5 million tons per year. The company has already tested its own liquefaction technology on a pilot plant with a capacity of just under 1 million tons and it is currently in opera...
Citius Pharmaceuticals logo 25.05.22
Citius Pharmaceuticals

Citius Pharmaceuticals will spin off its I/ONTAK drug development and commercialization division, which has completed three phases of trials, into a separate public company. The company's other assets, including Mino-Lok, will remain in Citius. The deal is expected to close in the second half of 2022.
Transdigm Group logo 25.05.22
Transdigm Group

TransDigm has completed the acquisition of DART Aerospace, a supplier of high-tech helicopter and civil aircraft equipment products. The company owns four facilities in Hawkesbury, Ontario; Portland, Oregon; Fort Collins, Colorado; and Chihuahua, Mexico. The deal was valued at $360 million.
SolarEdge Technologies logo 25.05.22
SolarEdge Technologies

SolarEdge and a subsidiary of Kokam have opened a 2 GWh Sella 2 lithium-ion battery cell plant. The facility is located in Eumseong, South Korea. Sella 2 will produce batteries for SolarEdge solar panel batteries, as well as for batteries used in other applications. Serial production is scheduled to begin in the second half of 2022.
Insperity logo 25.05.22

The Insperity Board of Directors announced a quarterly dividend of $0.52 per share. The last day to buy securities to receive the dividend is June 7, 2022. The annual dividend yield may reach 3.55%.
Rostelecom logo 25.05.22

Operator Rostelecom announced the rejection of the six-month moratorium on bankruptcy, which was introduced by the Russian Government on April 1 of this year. The renunciation of the moratorium will allow the company to retain the right to pay dividends or conduct share buyback.
Rosneft Oil Company logo 25.05.22
Rosneft Oil Company

Equinor transferred stakes in 4 Russian joint ventures to Rosneft and is relieved of all future obligations. Equinor suspended all new investments in Russia, stopped trading oil and gas products from the country and decided to withdraw from joint ventures due to Norwegian and EU sanctions against Russia. The company did not disclose the terms of the deal.
Covetrus logo 25.05.22

CD&R and asset management company TPG Capital will acquire all outstanding shares of Covetrus. CD&R and its affiliates currently own 24% of the stock. The deal is expected to close in the second half of 2022. The amount will be $4 billion, or $21 per share.