20 Mar 2023 17:36

Polyus in talks with alternative platforms for organizing trading in depositary receipts

MOSCOW. March 20 (Interfax) - Polyus is in talks with several alternative exchanges in order to organize trading in depositary receipts, Russia's largest gold producer said in a statement.

The miner confirms its intention to ensure the admission of depositary receipts to trading on recognized stock exchanges; and, while trading in Polyus depositary receipts on the London Stock Exchange is suspended, the company continues speaking with several alternative trading platforms to enable investors to trade on exchanges rather than in the over-the-counter market.

The current depository for Polyus' depositary receipt programs is The Bank of New York Mellon , though the company has agreed to appoint RCS Issuer Services S.AR.L. as the new depositary. The latter is expected to assume full duties of the depositary for the depository receipt programs on June 19.

Polyus develops ore and alluvial deposits in the Krasnoyarsk Territory, Irkutsk and Magadan regions, as well as in the Sakha Republic, or Yakutia. The largest shareholders are the Islamic Organizations Support Fund (46.35%) and Akropol Group of Akhmet Palankoev (29.99%).