https://www.miningweekly.com
Aggregate|Gold
Aggregate|Gold
aggregate|gold

Russian gold miner Uzhuralzoloto raises $78m in Moscow IPO

22nd November 2023

By: Reuters

  

Font size: - +

MOSCOW - Russian gold miner Uzhuralzoloto (UGC) said on Wednesday it had raised 7-billion roubles ($78-million) in an initial public offering on the Moscow Exchange, pricing at the lower end of its range.

Russia's fourth-largest gold miner has shrugged off British sanctions on its owner, Konstantin Strukov, to push ahead with the listing and said it gave the company a market value of around 117-billion roubles.

The valuation implies a 15-20% discount to Russia's largest gold miner Polyuz, CFO Artem Kletskin said last week.

Russian share listings have been few and far between since Russia sent its troops into Ukraine in February 2022, and have generally seen small volumes and been dependent on Russian investors after an exodus of Western capital.

UGC said it had attracted more than 70 000 new investors during the IPO and that aggregate investor demand had exceeded supply many times over.

The company set the price for its IPO at 0.55 roubles per share, the lower end of its range. Shares will begin trading at 1230 GMT under the UGLD ticker.

Edited by Reuters

Comments

Showroom

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.366 0.41s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: