Russian poultry producer Cherkizovo Group presented its strongest market gain in over a year after announcing its intentions to buy back as much as 2% of its own stock.


Company shares rose 6.6%, reaching the largest increase since June 2010 to trade at 720 rubles on Sept. 29 in Moscow. The company intends to buy stock because the current market value “does not sufficiently reflect the fundamentals” of its performance. Global depositary receipts will also be included in the buyback offer, according to Cherkizovo.