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. Last Updated: 07/27/2016

Norilsk Stock Handout

MOSCOW ) -- Russia's Norilsk Nickel has finished distributing 10 percent of its shares to company employees in line with its privatization program, the company said Thursday.


More than 12.5 million shares held in a special fund set up for employees have now been transferred to workers. Around 1.5 million shares, each with a nominal value of 250 rubles (approximately 4 cents), were distributed for free, and the rest were sold to employees at 5,361 rubles per share, Norilsk said.


Norilsk shares fell 6 percent Thursday to $5.10 on The Moscow Times Index, down from Wednesday's close of $5.40.


Norilsk said the shares were divided among 150,000 employees, or around half the company's total work force, in line with agreements with trade union committees and privatization officials.


Norilsk said workers had full rights to trade the shares from April 8.