The European depositary Clearstream has lifted restrictions on the shares of the mining company Polymetal, accounted for by the American bank Citibank. Press service of the depository reportedthat these papers can now be transferred to the registrar of the Kazakhstan exchange AIX.
On May 19, 2023, the US Treasury included the Russian structure Polymetal on the sanctions list. In August, the company completed its delisting on the London Stock Exchange (LSE). In the same month, Polymetal completed the transfer of assets from the jurisdiction of the Island of Jersey to Kazakhstan. AIX became the company’s primary listing site.
January 31, 2024 the head of Polymetal Vitaly Nesis reportedthat the company plans to sell Russian assets by the end of March 2024. The company is one of the ten largest gold producers in the world. In 2023, Polymetal produced 38 tons of gold. The company’s revenue increased 14% last year to $2.13 billion.
At the end of January, Polymetal’s largest shareholder, the ICT group, sold its share of 23.9% of the share capital to the Omani investment fund Maaden International Investment LLC. Kommersant’s interlocutors believe that the deal may be part of an operation to sell Polymetal’s Russian assets.
Read more in the Kommersant article. “Deceptive Prospects”.