Russian miner Polyus Gold is likely go ahead with a share sale worth $700m
(£436m) to $1bn in late April, paving the way for a premium listing on the London Stock
Exchange, according to Reuters sources.
The company had originally planned to redomicile from its Jersey home to London in early March but has instead decided to create a new parent company necessary for it to obtain the free float required to gain inclusion into the index.
A final decision would depend on the UK Listing Authority’s terms set for a premium
listing, usually requiring a company’s free float to be 25 per cent. Polyus would need to
sell 10.5 per cent of its stock to hit that level.
If Polyus decides to go ahead it is likely make the public launch and placement of
shares in the last week of April.