29 Aug 2023 15:18

Polymetal completes delisting from LSE

MOSCOW. Aug 29 (Interfax) - Polymetal has finalized the procedure for terminating its listing on the London Stock Exchange (LSE), the company said.

Trading in the company's shares on the LSE was suspended in early August.

Polymetal shares continue to be listed on the exchange of the Astana International Financial Center in Kazakhstan (AIX exchange), which has become the primary trading floor. Earlier, the head of Polymetal Vitaly Nesis said that the company hopes to resume trading on the Moscow Exchange by the end of August.

In August, Polymetal completed the redomiciliation from Jersey to the AIX exchange. As a result of the redomiciliation, the company's shares were no longer compatible with electronic settlement under CREST, resulting in non-compliance with LSE listing requirements.

Polymetal is Russia's largest silver producer and one of its leading gold miners. The holding's enterprises are located in the Magadan and Sverdlovsk Regions, the Khabarovsk Territory, Yakutia, Chukotka and Kazakhstan. The largest shareholder is the IST Group controlled by Alexander Nesis and partners (about 24%).