trending Market Intelligence /marketintelligence/en/news-insights/trending/ChtL1FRqaPc89Va5Im0E6w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Polyus Gold may increase free float to 10% after exchange move to Moscow

Blog

Essential Metals & Mining Insights – February 2021

Blog

Top electric vehicle markets dominate lithium-ion battery capacity growth

Blog

Message in a (Word)Cloud

Blog

Essential Metals & Mining Insights - January 2021


Polyus Gold may increase free float to 10% after exchange move to Moscow

Polyus Gold InternationalLtd., Russia's biggest precious metals miner, could place at least 5%of its shares on the Moscow Stock Exchange in order to meet the Russian bourse'slisting requirements, Vedomosti reportedApril 12.

The gold miner de-listedfrom the London Stock Exchange last year, after companies controlledby the son of Polyus shareholder, Suleiman Kerimov, launched a of minority shareholders last year.

Polyus' decision to move to Moscow followed the imposition ofwestern sanctions against Russia and calls by some Russian leaders for companiesto transfer foreign exchange listings to Moscow.

But under the Moscow Exchange's listing rules for Tier 1 companies,Polyus must increase the free float in its stock to a minimum 10%. Its current freefloat is estimated at about 5%, according to company spokesman Artem Gorbachev,according to the report.

Polyus produced1.76 million ounces of gold in 2015, a 4% increase over output in 2014.