21.05.2021
The Moscow Exchange accommodated TMK’s request to change the listing level of PAO TMK’s common stock from level 1 to level 2.
On May 25, 2021, the listing level of PAO TMK’s common stock was changed from level 1 to level 2 of the quotation list of securities admitted to trading on the Moscow Exchange.
“TMK meets all listing level 1 requirements, including the quality of corporate governance, and maintains a high degree of openness and transparency. However, the 2020 stock buyback reduced the number of TMK shares available on the open market. Therefore, the shift to listing level 2 is a technical procedure for us. At the same time, we do not rule out the possibility that the Company will be reassigned to level 1 in the future,” said Vladimir Shmatovich, TMK’s Vice President for Strategy.
Currently, 4.36% of PAO TMK’s total outstanding ordinary shares are free float.
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