Gold producer Polymetal said on Thursday that trading in its shares on the Astana International Exchange (AIX) had started, with a total of 1 690 440 shares, amounting to $17-million, having been placed.
"The results of the secondary sale have exceeded our expectations, with demand shown from both institutional and private investors,” said Polymetal CEO Vitaly Nesis.
"I hope that interest towards Polymetal will grow as we become more familiar to the local investor base.”
Polymetal shares are traded under the ticker POLY with quotation and settlement in US dollars, and is fully fungible between LSE, MOEX and AIX.
The listing on the AIX coincides with Polymetal’s first decade in Kazakhstan. Polymetal started operating in Kazakhstan in 2009. The company currently has two producing mines in the country: Kyzyl that was successfully launched last year and Varvara. Polymetal also has several exploration projects in the country and employs over 2 500 people.