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Novatek share buy-back

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Jan 29 (LNGJ) – Novatek, the largest independent natural gas producer in Russia and operator of the Yamal LNG export plant in northern Siberia, said that its share buy-back programme during the period from January 20-24, 2020, had resulted in 464,900 ordinary shares (including in a form of Global Depositary Receipts) being purchased in the open market. 

   Novatek is a public joint stock company and the shares are listed in Russia on the Moscow Exchange and on the London Stock Exchange in the UK under the ticker symbol “NVTK”. Companies buy back shares for a number of reasons, including as a means of increasing the value of remaining shares available by reducing the supply, or preventing other existing shareholders from taking bigger stakes.