According to Bloomberg, the largest Russian gold mining company, Polyus, is considering listing its global depository receipts on the Astana International Exchange (AIX). This follows the recent listing of Russian agroholding Rusagro and retailer O’Key on the AIX, as Russian companies are turning to this exchange as an alternative to the New York and London stock exchanges due to sanctions. Trading in Polyus shares in London has been suspended, but the company is the world’s largest holder of gold reserves and among the top five gold producers globally.
Bloomberg also reported that Polymetal, another major Russian gold mining company, is considering re-registering in Kazakhstan and may list its shares on the AIX or the Abu Dhabi Securities Exchange. In March, Polyus and Polymetal’s share prices on the Russian stock market increased significantly due to rising gold prices, with Polyus being the only sector favourite according to Forbes.