Nord Gold confirms its IPO plan in London and Moscow

By Ian Walker

Nord Gold PLC on Thursday confirmed its intention to enter the London and Moscow stock exchanges, and said the price of its final offering would be decided following a book-making process.

The Russian gold company said last week that it plans to float on both exchanges, but will not raise fresh money. The company has announced its intention to have a premium listing in London and a secondary listing on the Moscow Stock Exchange.

Nord Gold said Thursday that trading is expected to begin later this month or in July.

The Wall Street Journal reported in January that the company could be valued at more than $ 5 billion, citing people familiar with the matter.

The company expects to have a 25% free float at the start of negotiations in London.

Bacchus Capital Advisers acts as financial advisor, while Citigroup Global Markets Ltd. acts as a sponsor of the offer.

Citigroup, JP Morgan Securities PLC and VTB Capital PLC are acting as joint global coordinators and joint bookrunners for the offering.

BMO Capital Markets Ltd., Credit Suisse Securities (Europe) Ltd., Bank GPB International SA and Renaissance Securities (Cyprus) Ltd. act as associate bookkeepers for the offer.

Peel Hunt LLP acts as the lead provider.

Write to Ian Walker at

Source link

About Pia Miller

Pia Miller

Check Also

US will continue to impose sanctions on Russian companies for Nord Stream 2 – Sullivan – Business & Economy

NEW YORK, June 20. / TASS /. The United States will continue to impose sanctions …