Russia's Polyus selling shares worth US$700m to meet Moscow bourse rules

Moscow

POLYUS PJSC is selling shares worth at least US$700 million as Russia's largest gold producer seeks to meet Moscow's stock-listing rules and raise cash.

The company is offering at least 7 per cent of the company through a combination of new and existing shares owned by billionaire Suleiman Kerimov's family, according to a statement on Monday. Some of the shares will be traded as global depository receipts on the London Stock Exchange, marking a return to the city for Polyus, which withdrew its listing two years ago.