Nomos Stock Declines After PPF Swaps Shares for Uralkali

Nomos Bank fell after Otkritie Financial Corp. said it swapped shares in OAO Uralkali for a 19.9 percent stake in the Moscow-based lender.

Nomos dropped 2.7 percent to 753.90 rubles by the close in Moscow today. Uralkali gained 0.1 percent to 258.50 rubles.

PPF received 3.44 shares in Uralkali for each one it held in Moscow-based Nomos, said Otkritie Financial Corp., which acquired 19.9 percent of the lender last week. That would give PPF about 63.3 million shares, or 2.15 percent, of Uralkali.

Otkritie said the Uralkali shares used in the swap were bought from billionaire Alexander Nesis’s ICT Group, which is also a Nomos shareholder.

PPF sold the remainder of its Nomos stake to billionaire Alexander Mamut and businessman Oleg Malis.

To contact the reporter on this story: Torrey Clark in Moscow at tclark8@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.