London-listed gold mining company Petropavlovsk on Monday confirmed that it was considering a dual-listing on the Moscow Stock Exchange.
The company’s statement was in response to media reports that it was considering a dual listing to raise money from Russian investors to pay down its $500-million in debt.
“The company actively considers various strategic options to enhance its market profile and shareholder base,” Petropavlovsk said.
Last week, one of Russia’s top five gold producers, Uzhuralzoloto Group of Companies, became a shareholder in Petropavlovsk.