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PAVA OAO Plans Delisting from Moscow Exchange-Interfax

Tuesday, 17 Sep 2013 02:51am EDT 

Interfax reported that the shareholders of PAVA OAO (Pava) will discuss submitting a delisting application to the Moscow Exchange on October 17. The board made the decision to initiate delisting procedures because of low share liquidity and light trading volumes. Delisting will enable the Company to get rid of the administrative costs associated with trading shares on the exchange, Pava said. During the delisting procedures, the Company will offer to buy up minority shares. The parameters of the offer have not yet been disclosed. Pava held its IPO in March 2005 when it was called Khleb Altaya. It placed 10.5% of shares on the RTS and MICEX for $8 million. Earlier Pava stopped production and transferred its entire business and personnel to subsidiaries. All company structures are still part of the Pava brand holding company. 

Company Quote

-0.015 -3.53%
3:51pm EDT