PPF Group concludes repo deal on 3.11% Polymetal stake
MOSCOW. Dec 13 (Interfax) - Czech billionaire Petr Kellner's PPF Group has concluded a new repo deal on 3.11% of shares in Polymetal , the gold producer said in a press release.
The deal was transacted on December 9, 2016 and expires on January 9, 2017.
The current market value of the 3.11% stake, based on the closing price of Polymetal shares on the London Stock Exchange on Monday, was 99.5 million pounds sterling ($126 million).
The deal reduces the Polymetal stake currently at PPF's disposal to 0.17%. The remaining 12.71% of shares in its nominal stake are pledged in repo deals, including 9.6% of shares in a deal that expires on January 29, 2018.
Polymetal's largest shareholders are Alexander Nesis's ICT Group with 26.87%, PPF Group with 12.88% and the family of Alexander Mamut with 10.1%. The shares are listed on the LSE and Moscow Exchange . The free float exceeds 50%.
Polymetal, Russia's largest silver producer and one of the country's biggest gold miners, has operations in the Magadan and Sverdlovsk regions, Khabarovsk Territory, Chukotka, Kazakhstan and Armenia.
