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Russia's top gold producer gears up for a £7bn London stock market float

June 15, 2017 9:03 PM
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Russia’s top gold producer is planning to return to the London Stock Exchange valued at up to £7 billion.

Polyus, owned by the family of Russian tycoon Suleiman Kerimov, delisted from London in 2015 amid sanctions over Moscow’s role in the Ukraine crisis.

Listed on the Moscow Exchange at about £7.7 billion, it plans to raise about £314 million to repay debt and finance projects.

Yesterday, it set a range at 2608p to 2769p per global share in London.

Polyus has just sold a 10 per cent stake to a consortium led by China’s Fosun International for £696 million.

Source: dailymail.co.uk

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