MOSCOW, Feb 11 (Reuters) - Russia's No. 2 gas firm, Novatek NVTK.MM, said on Monday its board has approved the purchase of up to, but not more than, 3 percent of its ordinary outstanding shares as part of a share buyback programme.
The firm said the shares would be bought in the form of global depositary receipts (GDRs).
Novatek said it planned to use the long-term buyback programme for possible future financing activities and for the implementation of a compensation and incentive programme. (Reporting by Tanya Mosolova; Editing by Dmitry Zhdannikov)
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