Magnitogorsk Iron and Steel Works (MMK) plans to issue digital financial assets (DFAs) worth RUB 500 million for a term of 12 months and with a fixed monthly yield of 18.85% per annum. The decision was published on Sber’s digital assets platform on 1 July 2024.

The Company’s DFAs may be purchased by both legal entities and individuals who are qualified or unqualified investors, although the latter are limited to purchasing no more than RUB 600 thousand per year.

Orders will be accepted over a period of three days, during 2–4 July 2024 inclusive. The allotment date is 5 July 2024. The price of one DFA at the time of issue is RUB 10,000.

DFAs are financial instruments in digital format that are issued, accounted for and traded through a distributed ledger (blockchain technology), which guarantees the immutability of the underlying data.