Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically-integrated phosphate-based fertilizer producers, announces that MSCI has included Global Depositary Receipts (“GDRs”) on PhosAgro shares into the MSCI Russia and MSCI Emerging Markets indexes.
PhosAgro CEO Andrey Guryev said: “PhosAgro is the first company to be added to the MSCI Russia index in the last two years.
“We have worked hard to make PhosAgro the most efficient company in its sector, increase the liquidity of our shares and GDRs, and make the Company’s investment story more attractive. PhosAgro has consistently delivered, and even over-delivered, on its promises to investors in terms of dividend payments.
“We see growing interest in PhosAgro from the investment community, which is the best measure of the effectiveness of the Company’s management and the Board of Directors. It reflects our success in implementing PhosAgro’s long-term strategy, as well as the Company’s unique competitive advantages, the most important of which are the low cash-cost of production and the high quality of our fertilizers.
“We expect inclusion in the benchmark MSCI Russia index to enable PhosAgro to gain access to an even broader range of international and Russian investors, which will undoubtedly influence the Company’s market capitalisation.”