April 17, 2018 / 10:43 AM / a year ago

Russia's Cherkizovo postpones board meeting on share issue

MOSCOW, April 17 (Reuters) - Cherkizovo, Russia’s biggest poultry producer, has postponed a board meeting scheduled for Tuesday to approve a secondary share issue, it said on Monday.

The company said in a regulatory filing that the board meeting would now take place on April 26. This was the second postponement, having previously moved the meeting to April 17 from April 13.

Cherkizovo, which on April 3 announced plans to issue at least $150 million of new shares, declined to comment on the reasons for the postponement.

Russian assets have tumbled over the past week after the United States imposed new sanctions on Russia, with the rouble and stock indexes touching multi-month lows, clouding prospects for a number of Russian companies tapping equity markets.

Russian IT services company IBS postponed its initial public offering last week, citing volatility in financial markets.

Reporting by Maria Kiselyova and Olga Popova Editing by David Goodman

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