Offer

TMK published the preliminary results of Volzhsky's offer to acquire up to 34.7% of its shares at ₽61 for paper. The shareholders applied for the sale of 229,958,764 shares of TMK, which represents approximately 22.3% of the company. Once the settlement of the offer is complete, the company will commence GDR delisting on the London Stock Exchange. In addition, TMK may consider making another offer at a price not higher than ₽61.