Stock market news

Solidcore Resources

Polymetal is still postponing until May a decision on 2023 dividends and future dividend policy, the company's head Vitaly Nesis said. Earlier, Polymetal announced the sale of the Russian business for $3.69 billion, including $2.21 of net debt and dividends to Polymetal of $1.429 billion, of which ₽1.151 billion will be used to repay intragroup debt. Discuss...

UGC

Reached with Transneft agreements on relocation of Transneft-Ural pipeline expand UGC's gold production opportunities. Transfer of pipeline will free up for production at least 40 tons of gold at the Bereznyakovskoye deposit in the Urals. Measures to relocate the oil pipeline began last summer.

Fix Price Group

Net profit of Fix Price's operating subsidiary, Best Price LLC, for 2023 amounted to ₽21.97 billion under RAS, up 11.5% from ₽19.7 billion in the previous year. Revenue increased 3.3% to ₽281 billion against ₽272.09 billion a year earlier.

Mosgorlombard

Mosgorlombard entered into a strategic agreement with Promsvyazbank to securitize its portfolio of pawnshop loans and finance M&A transactions. Rights of claim of the pawnshop on loans issued will be used as collateral for loans issued by the bank. Group is also negotiating the acquisition of a number of pawnshop chains in the Moscow region, and this agreeme...

M.Video

M.Video Group has launched a pilot project of service zones where equipment purchased from other retailers can be repaired. Company explains the appearance of the format by the closure of authorized centers of foreign manufacturers. Experts believe that service centers primarily create image advantages, and the company's strong position in the retail market...

KAMAZ

Kamaz Autoconcern has lost the leadership to the Chinese Sitrak, which occupies 20% of the Russian market. According to Avtostat, 1,473 Chinese Sitrak and 1,385 Russian Kamaz vehicles were registered in January 2024. Total truck sales in the first month of the year amounted to 7,524 vehicles, up 10% year-on-year. Indicator has almost reached the record value...

Solidcore Resources

Polymetal has entered into an agreement to sell its Russian business to Sergey Yachunkov's Mangazeya Group for $3.69 bln, including $2.2 bln of debt. Amount of the deal includes $1.43 billion of dividends to be paid to Polymetal before the deal closes. Cash proceeds in favor of Polymetal upon completion of the sale are estimated at $300 mln. These funds will...

Sovcombank

Sovcombank's net profit for 2023 amounted to ₽95 billion, compared to a loss of ₽14.34 billion in the previous year. Regular part of net profit amounted to ₽62 billion, non-regular - ₽33 billion. Full reporting of the bank will be published on March 15, but already now the management reported plans to propose to the board of directors to pay dividends on the...

UralSib Bank

Financial rehabilitation of Uralsib Bank has been completed ahead of schedule, the state corporation Deposit Insurance Agency has announced. Bank was bailed out in 2015, then the auction was first won by an individual - businessman and ex-officer Vladimir Kogan. He received about 82% of shares, while the former controlling owner, also businessman Nikolai Tsv...

Sovcombank

Sovcombank will buy Home Bank in two stages. First, 51% of Home Bank's shares will be acquired in exchange for Sovcombank's shares. Volume of the additional issue will amount to 5% of the authorized capital. Second stage will take place by the end of 2024. It will include the acquisition of the remaining 49% of Home Bank shares, paid in cash with installment...