Polymetal plans to complete transfer of registration to Kazakhstan on August 7
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Against the backdrop of news about the redomiciliation, the value of the company’s shares falls for the second day in a row. On July 21, at the moment, the quotes fell by 4.5% to 543.3 rubles. As of 17:00 Moscow time, the paper cost 555.6 rubles. (-1.98%). On July 20, the fall was 7.2%.
The company previously said that the re-registration would not be completed until the week of July 31st. After the transfer, the main listing of the company will move to the Astana International Financial Center in Kazakhstan.
In connection with the procedure, the Moscow Exchange announced the suspension of trading in the company’s securities. July 25 will be the last day that Polymetal shares will be traded in T+2 order book, meaning delivery in two business days on July 27. On July 28, payment codes T0 and Z0 will be available for professional participants. And from July 29, there will no longer be valid settlement codes.
Polymetal announced its redomiciliation back in May of this year. At that time, Russian investors reacted to the news with optimism: shares on the Moscow Exchange closed the trading session on May 10 with an increase of 7.8%, while the Moscow Exchange index rose by 0.82% that day. At the same time, the papers lost 27.1% and 31.8% each on the London and Astana stock exchanges.
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