Polymetal completes redomiciliation in Kazakhstan

MOSCOW. Aug 8 (Interfax) - Polymetal , Russia's largest silver producer and one of the country's biggest gold miners, completed its redomiciliation from Jersey to the Astana International Financial Center (AIFC) in Kazakhstan on August 7 as planned, the company reported.

Polymetal confirmed that it remains listed on the AIFC's AIX, which has now become the company's primary stock exchange. The resumption of trading on the AIX will be announced separately, once the company has completed the technical register migration procedures, Polymetal said.

Trading of Polymetal shares on the Moscow Exchange was also suspended for the duration of the redomiciliation, but the company said earlier that it expects trading to resume soon.

Trading of Polymetal shares on the London Stock Exchange was suspended in early August and will not resume. Polymetal said earlier that, as a result of the redomiciliation, its shares would cease to be compatible with electronic settlement within CREST, which will consequently result in the inability of the company to meet certain basic requirements to maintain the London listing. Polymetal is expected to be delisted from the LSE on August 29.

Polymetal has operations in Magadan and Sverdlovsk regions, Khabarovsk Territory, Yakutia, Chukotka and Kazakhstan. Polymetal's largest shareholder is the ICT Group of Alexander Nesis and his partners with about 24%.