The reason for the decline of securities of “BRIC” is an exclusion from the MSCI Russia index due to the fact that the company’s free float fell below 15%.
MOSCOW, 19 Oct. Of Uralkali’s shares drop by more than 5% on exclusion from the list of securities included in the calculation of the MSCI Russia index, according to data of the Moscow exchange.
By 10.15 GMT paper Russia’s largest potash producer, went down by 5.1%, the MICEX index was up 0.2%.
Index provider MSCI excluded the stock of Uralkali MSCI Russia index due to the fact that the company’s free float fell below 15%. The changes will come into force on 21 October of the current year.
About a similar perspective was reported at the beginning of October, when summing up the preliminary results of the buy back, Uralkali under buy back bought 21,98% of its shares.