Bank Uralsib shares traded deep in the red on the Moscow Exchange Friday. At the open, the stock slid by nearly 30%, paring some losses by the mid-session. As of 14:40 Moscow time the stock traded at Rub 0.1212 per share (down 11.27% vs. the previous close).
Bank Uralsib's supervisory board previously set the price to buy back the bank's common shares from the shareholders (Rub 0.038 per share). Also, a decision on the stock conversion rate for Bank BFA was also adopted (a Bank BFA share with par value of Rub 1,000 will be converted into 28,430 Bank Uralsib shares with par value of Rub 0.10 each).
Bank BFA's takeover by under-rehabilitation Bank Uralsib got under way in August 2016.
