Russian gold miner Uzhuralzoloto (UGC) will offer up to 5% of capital in new shares in an initial public offering (IPO) on the Moscow Exchange, the company said on Thursday, a day after Britain added its owner Konstantin Strukov to a sanctions list.
Russian share listings have been few and far between since Russia sent its troops into Ukraine in February 2022, and are generally characterised by small volumes and dependent on Russian investors after an exodus of Western capital.
UGC, which is Russia's fourth largest gold miner, said it was considering completing the IPO by the end of November and was preparing a new dividend policy that may see it pay up to 50% of profits to shareholders.
Alfa Bank analysts valued UGC's share capital at 140.5-billion to 170.8-billion roubles ($1.53-billion to $1.86-billion).
To access unabridged article, please click on the source link below.
LATEST NEWS
-
Chiatura Miners Reach Agreement with Georgian Manganese
07/12/2023
-
Norway parliament deal marks major step towards seabed mining
07/12/2023
-
Kazakhmys resumed work at all underground mines after the loss of life
06/12/2023
-
Mine tragedy: ArcelorMittal Temirtau promised that it would comply with all rights and obligations
06/12/2023
MOST POPULAR
-
Construction of the mining, chemical and metallurgical complex “Tymlay”
-
Mining companies must pay higher taxes Kazakh president says
-
Proposals to improve investment climate considered by the Government of Kazakhstan
-
Digital Transformation in Kazakhstan’s Mining Industry will be addressed at the 2nd ‘Mining Goes Digital Kazakhstan’ Conference