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. Last Updated: 07/27/2016

Norilsk Share Swap Completed

Russia's markets watchdog said Monday it had registered the results of a stock swap of metals giant Norilsk Nickel for stock in its core unit, formally completing a complicated restructuring.

The restructure involved a swap of Norilsk's shares for those in its core unit, Metals and Mining Co. Norilsk Nickel. MMC will become the main traded stock.

The Federal Securities Commission said in a statement it had registered the placement of 96.36 percent of the last issue of MMC shares, which were swapped for an equal number of shares in the parent company.

"The last stage of the company's restructuring has thus been completed, with MMC Norilsk Nickel becoming its center of capitalization," MMC said in a statement.