Annual
Report 2015

key investment projects ru

Information on securities

Share capital

Since 2001, MMC Norilsk Nickel’s shares have been listed on Russian stock exchanges (RTS and MICEX). At present, the shares of MMC Norilsk Nickel are on the First Level quotation list of the MICEX Stock Exchange (part of Moscow Exchange) and also admitted to trading at Saint-Petersburg Exchange.

As at 31 December 2015, MMC Norilsk Nickel’s share capital comprised 158,245,476 ordinary shares with a par value of 1 rouble each.

Ticker symbols
Trading platform Financial Instrument Global Identifier Reuters Instrument Code
Moscow Exchange GMKN RN

GMKN RХ
GMKN.MM

GMKN.RTS
Saint-Petersburg Exchange
MMC Norilsk Nickel share price and trading volume (MOEX)
Date Share price, RUB Volume, shares
Min Max End of period
2011 4,047 8,417 4,950 154,291,682
2012 4,610 5,939 5,617 89,275,016
2013 4,106 6,089 5,397 76,120,053
2014 5,140 10,805 8,162 75,766,353
2015 8,590 12,106 9,173 59,126,636
Q1 8,590 12,106 10,500 12,646,659
Q2 9,005 10,680 9,473 15,081,223
Q3 9,022 11,206 9,398 15,096,277
Q4 8,780 9,783 9,173 16,302,477
Source: Bloomberg

Buy-back

In 2015, the Board of Directors resolved to launch a share buy-back programme for a total of up to USD 500 million completed by the year-end. Under the programme, 1,250,075 shares were bought back from 1 July to 31 December worth of USD 196 m.

Share capital structure

The Company’s major shareholders are Olderfrey Holding Limited, UС Rusal Plс and Crispian Investments Ltd. owning collectively 64% of the Company’s share capital, while the remaining 36% is free float owned by institutional and private investors from Russia, Europe, Asia and the USA.

As at 31 December 2015, there were 30 legal entities (including 3 nominee shareholders) and 40,995 individuals listed in the register.

MMC Norilsk Nickel’s shareholders as at 31 December 2015, %
1 Indirect control via controlled entities.
Free float geographyBased on the identified 65% share of the total free float., %

American depositary receipts

Since 2001, the Company has been maintaining an American depositary receipt (ADR) programme. Shares are converted into ADRs at the ratio of 1:10. Depositary services for ADR transactions are rendered by the Bank of New York Mellon, while custody services are provided by VTB Bank. ADRs are traded on the US OTC market, and in the electronic trading system of OTC markets of the London and Berlin stock exchanges.

As at 31 December 2015, the total number of ADRs issued against Norilsk Nickel’s shares was 659.482.150 accounting for 41.67% of the authorised capital.

The Company discloses information to ADR holders in English as per Rule 12g3-2(b) of the US Securities Exchange Act of 1934.

ADR ticker symbols
Trading platform Financial Instrument Global Identifier Reuters Instrument Code
IOB, London Stock Exchange — London, UK MNOD LI NKELyq.L
OTC Market — New York, USA NILSY US

NILSY UV
NILSY.PK
Frankfurt Stock Exchange — Frankfurt, Germany NNIA GR

NNIA GF
NKELy.F
ADR price and trading volume on the LSE OTC market
Date Share price, RUB Volume, shares
Min Max End of period
2011 15.0 27.9 15.3 2,027,267,723
2012 14.4 20.5 18.4 1,168,251,876
2013 12.4 20.3 16.6 1,022,238,584
2014 14.2 21.5 14.2 1,166,038,332
2015 12.4 21.6 12.7 748,638,706
Q1 14.2 19.0 17.8 195,304,392
Q2 16.9 21.5 16.9 181,661,759
Q3 14.1 17.0 14.4 172,934,353
Q4 12.4 15.8 12.7 198,738,202
Source: Bloomberg

Stock indices

Changes in the share of stock exchanges (share and ADR trading volumes)
Changes in the share of stock exchanges Source: Bloomberg
MMC Norilsk Nickel’s ADR and key sector indices performance
MMC Norilsk Nickel’s ADR and key sector indices performance Source: Bloomberg

Eurobonds

Rouble bonds
Instrument Exchange bonds, BO-05
Issuer MMC Norilsk Nickel
ISIN RU000A0JW5C7
Offering date 19 February 2016
Maturity date 06 February 2026
Offering amount RUB 15 bn
Coupon rate 11.60%
Coupon period Each 182 days starting from the offering date
Eurobonds
Instrument Eurobonds 2018 (LPN) Eurobonds 2020 (LPN) Eurobonds 2022 (LPN)
Issuer MMC Finance Ltd MMC Finance Ltd MMC Finance Ltd
ISIN XS0922134712 XS0982861287; US55314WAA27 XS1298447019; US55314WAC82
Offering date 30 April 2013 28 October 2013 14 October 2015
Maturity date 30 April 2018 28 October 2020 14 October 2022
Offering amount USD 750 m USD 1.000 m USD 1.000 m
Coupon rate 4.375% 5.55% 6.625%
Coupon dates 30 October / 30 April 28 October / 28 April 14 October / 14 April
Issue rating BBB—/Ba1/BBB— BBB—/Ba1/BBB— BBB—/Ba1/BBB—