Yuzhuralzoloto raised 7 billion rubles during the IPO – Kommersant
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Gold mining company Yuzhuralzoloto raised 7 billion rubles. during the initial public offering (IPO) on the Moscow Exchange. The IPO price was 55 kopecks. per share – the lower limit of the announced price range. As a result of the placement, the share of shares in free float (free float) of the company will be about 6.0% of the increased authorized capital.
“Strong demand from all categories of investors allowed us to increase the placement volume to RUB 7 billion. taking into account the size of the stabilization package. The IPO price was 55 kopecks. per share. At the placement price, taking into account the issue of new shares, the market capitalization of SGC will be 117 billion rubles,” says the press release “Yuzhuralzoloto”
As the company clarified, in total, taking into account the stabilization package, 12.7 billion shares were placed. Based on the results of the IPO, the share capital of Yuzhuralzoloto consists of 212.8 billion shares. Yuzhuralzoloto noted that the offer consisted solely of an additional issue of shares. The company’s main shareholder did not sell shares.
Yuzhuralzoloto is one of the top 10 Russian gold mining companies. It owns deposits in the Chelyabinsk region and Khakassia. The company mines gold using both underground and open-pit methods. Its JORC resources are estimated at 40.7 million ounces of gold equivalent.
About the intention to hold an IPO of Yuzhuralzoloto announced November 9. On November 21, the company closed the book of applications for the placement of shares as part of the IPO. Based on the collection results, according to three Kommersant sources on the market, the book was oversubscribed more than three times. Institutional investors showed high interest in the securities, attracted by the discount at which the placement was carried out.
Read more in the Kommersant article. “The Book with the Golden Edge”.
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