MGKL CEO Lazutin plans to raise his stake to 29% from 12.7%; shares jump 9.4%
In short
The chief executive of Russian pawnshop group MGKL, Alexei Lazutin, plans to increase his stake in the company from 12.7% to 29% through off-exchange deals. MGKL shares rose 9.4% to 2.115 rubles on the news before easing to 2.04 rubles, up 5.66% on the day. The company said the purchases are a personal investment decision and are not tied to a buyback programme run by a subsidiary.
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The chief executive of the Russian group MGKL, Alexei Lazutin, plans to increase his stake in the company from 12.7% to 29%, the company said. Kommersant reported the plan citing the company's press service, and Vedomosti reported it citing the group's Telegram channel. The shares are to be acquired through off-exchange deals, the documents say. [ 1 , 3 , 4 ]
MGKL shares rose on the disclosure. Kommersant reported the stock jumped 9.4% to 2.115 rubles on 6 October, and said that by 10:18 the price had eased to 2.04 rubles, up 5.66%. RBC reported a rise of about 9%. [ 1 , 2 , 3 ]
Lazutin linked the decision to his view of the group's prospects. “Doubling my share in the company's capital shows personal responsibility for its results,” Kommersant quoted him as saying. Vedomosti reported that he cited confidence in implementing the group's growth strategy and creating long-term shareholder value, and that MGKL said the larger package would strengthen the link between his personal investment result and the company's share price. [ 1 , 4 ]
Vedomosti reported that MGKL said the transactions are not connected to a buyback programme being conducted by a subsidiary of the company, and are Lazutin's own investment decision and a personal increase of his holding. On 29 September the MGKL board introduced an emergency moratorium on transactions in financial instruments by insiders for the period 1 to 31 October, Vedomosti reported. It said the decision was taken to minimise the effect on value and because of the risk of accusations of using insider information in transactions with financial instruments, and that it covers shares, bonds and other issue-grade securities as well as derivatives. [ 4 ]
The group's buyback plans were approved earlier. On 2 July the MGKL board approved the possible purchase of the company's shares on the open market for up to 897 million rubles, and Vedomosti reported that bonds may also be bought back under the procedure. As a result of the programme, the number of MGKL shares in free float could fall from 31.81% (988.7 million rubles) to 5.5% (174.8 million rubles), the outlet reported. Kommersant reported separately that MGKL's free float had risen from 14.6% to 27.6% as of July 2024. [ 1 , 4 ]
Behind the share plan is a strategy revised in the first half of 2026. Kommersant reported that it provides for bringing a bank into the group's perimeter, which the company says will strengthen its existing lines of business and let it take a niche in the market for investment precious metals for private investors. The documents give different figures for Lazutin's previous holding: MGKL says he holds 12.7% now, while Kommersant reported that, according to reporting data, he owned 14.83% of MGKL shares as of 31 December 2024. No schedule for the off-exchange purchases is given. [ 1 , 4 ]
Why it matters
The move is a share-price and ownership story for a listed Russian financial group, not a broad market event. It matters mainly to MGKL investors: a chief executive nearly tripling his holding concentrates ownership while the group carries out a buyback that could sharply cut its free float. The documents give no wider significance.
Key facts
- MGKL CEO Alexei Lazutin plans to raise his stake from 12.7% to 29%, with purchases to be made through off-exchange deals. [ 1 , 4 ]
- The company's press service confirmed the plan to Kommersant; Vedomosti cited the group's Telegram channel. [ 1 , 4 ]
- MGKL shares rose 9.4% to 2.115 rubles on 6 October; by 10:18 they had eased to 2.04 rubles, up 5.66%. [ 2 ]
- Lazutin said the increase shows personal responsibility for the company's results and confidence in its growth strategy. [ 1 , 4 ]
- MGKL said the transactions are not connected to a buyback programme being conducted by a subsidiary and are Lazutin's own investment decision. [ 4 ]
- On 29 September the MGKL board introduced an emergency moratorium on transactions in financial instruments by insiders from 1 to 31 October. [ 4 ]
- On 2 July the board approved the possible buyback of MGKL shares on the open market worth up to 897 million rubles; bonds may also be bought back. [ 4 ]
- MGKL's revised first-half 2026 growth strategy provides for bringing a bank into the group's perimeter and taking a niche in investment precious metals for private investors. [ 1 ]
Confirmed by several sources
- MGKL CEO Alexei Lazutin plans to increase his stake in the company from 12.7% to 29%. [ 1 , 3 , 4 ]
- MGKL shares rose about 9% on the news. [ 1 , 2 , 3 ]
- The shares are to be acquired through off-exchange deals. [ 1 , 4 ]
- The stated reason is Lazutin's confidence in the group's growth strategy and in creating long-term shareholder value. [ 1 , 4 ]
Still unclear
- Lazutin's holding is given as 12.7% now, while Kommersant reports he owned 14.83% of MGKL shares as of 31 December 2024. The documents give different figures for different dates and do not explain the difference.
- Free float figures differ: Kommersant reports free float rose from 14.6% to 27.6% as of July 2024, while Vedomosti says the buyback could cut free float from 31.81% to 5.5%. The figures refer to different dates and to different programmes and are not reconciled in the documents.
- The timing and completion of the off-exchange purchases are not stated. No document gives a schedule for the transactions or says whether any shares have already been bought.
What local media are saying
Timeline, local time
- Kommersant reports that MGKL CEO Alexei Lazutin will raise his stake from 12.7% to 29% through off-exchange deals, citing the company's press service, and that the shares rose 9.4% on the news. [ 1 ]
- MGKL shares trade at 2.04 rubles, up 5.66% from the previous close. [ 2 ]
- Kommersant reports the shares jumped 9.4% to 2.115 rubles at the open of trading on 6 October. [ 2 ]
- RBC reports the shares rose about 9% on the chief executive's plans to more than double his stake. [ 3 ]
- Vedomosti reports the plan to raise the stake from 12.7% to 29%, citing the group's Telegram channel, and adds detail on the insider moratorium and the buyback. [ 4 ]