2 Aug 2013 13:59

Kazakhstan's ShalkiyaZinc delisting from LSE

MOSCOW. Aug 2 (Interfax) - ShalkiyaZinc N.V., a company with mining operations in Kazakhstan, plans to delist from the London Stock Exchange, the company said on Friday.

The company's shares are expected to stop trading by the end of August.

The shares are being delisted because Kazakh group SAT & Company, which acquired 81.4% of ShalkiyaZinc in 2011 for $50 million, has since increased its stake to 98.6%. Given such low liquidity, the company decided that the expense of maintaining the listing did not make sense.

ShalkiyaZinc includes the Shalkiya mine with capacity to produce 1.5 million tonnes of ore per year and a plant in Kentau with capacity to process 1.5 million tonnes of ore per year, as well as the Talap deposit.