Polymetal will not leave the Moscow Exchange – Kommersant
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Polymetal (MOEX: POLY) does not plan to delist shares from the Moscow Exchange (MOEX: MOEX), despite the fact that the trading platform reduced the level of listing of company shares from the first to the third. The decision of the Moscow Exchange was made in connection with an agreement to sell the Russian business of Polymetal – JSC Polymetal.
“Despite the downgrading of the listing level, Polymetal will continue to adhere to the high standards of corporate governance and disclosure required by MOEX Level 1 listing requirements. The company confirms that it does not intend to initiate delisting from the Moscow Exchange,”— reported Polymetal press service.
The company noted that the transfer of shares to the third level of listing does not affect the exchange of shares announced in November 2023 affected by EU sanctions against the National Settlement Depository.
February 19 Polymetal reported on concluding an agreement on the sale of a Russian business for $3.69 billion, of which $300 million will be paid in real money. The buyer was Mangazeya Plus JSC, a structure of the Mangazeya Mining company.
The deal should be closed by the end of March 2024. Mangazeya will receive access to the processing of refractory ores, and Polymetal will receive funds for development in Kazakhstan and relief from sanctions risks. February 20, Russian President Vladimir Putin signed an order authorizing transactions with shares of Polymetal JSC controlled by foreign investors.
On the sale of Russian assets – in the Kommersant material “”Mangazeya” mined gold from ”Polymetal””.
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