Yuzhuralzoloto will place up to 5% of shares in an IPO
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The gold mining company Yuzhuralzoloto (UGK) owned by Konstantin Strukov plans to place an additional issue of shares in the amount of up to 5% of share capital on the Moscow Exchange as part of an initial public offering (IPO). The company announced this on November 9, clarifying that the IPO could be completed before the end of November.
The offer will consist only of shares of the additional issue; current shareholders will not sell the securities, according to a press release from the UGK. According to SPARK-Interfax, the company’s president, Strukov, owns 99.99% of the shares.
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