Norilsk Shares Rise on Potential Canceled Shares

Bloomberg reported Norilsk (LSE:MNOD) saw its share rise as the company signalled it may cancel the sale of some its undisturbed offshores stocks.

As quoted in the market news:

Norilsk, the world’s largest producer of nickel and palladium, rose 1.2 percent to 4,924 rubles, the highest close since May 22, paring its monthly loss to 5.3 percent.

Norilsk may hold an investor meeting to vote on canceling as much as 10 percent of its treasury shares, Potanin, who holds a 28 percent in the company, told reporters in Moscow today.

Click here to read the full Bloomberg report.