Russia's Polyus raises $879m in its return to London

Russia's Polyus raises $879m in its return to London

  • Polyus starts trading on London Stock Exchange following 9 per cent share sale
  • Company valued at $8.9bn, largest Russian IPO globally in 2017
  • Reinforces London’s role as the leading global financial centre

London Stock Exchange today welcomes the return of Polyus, Russia's largest gold producer, to its Main Market. The company raised $879 million (including the overallotment option) through a 9 per cent equity offering of global depositary receipts to international investors, valuing the company at $8.9 billion. Polyus is the largest Russian IPO globally to date in 2017, reinforcing London Stock Exchange’s status as a leading global financial centre. The company has also raised $2.05 billion in debt capital in London over the last decade, and most recently, raised $800 million through a Eurobond placement on London’s Main Market.  

To celebrate the listing today, Xavier Rolet, CEO, London Stock Exchange Group welcomed Pavel Grachev, CEO, Polyus and Edward Dowling, Chairman, Polyus, to London.  

Xavier Rolet, CEO of London Stock Exchange Group said:
“Polyus’ return to London Stock Exchange today is a significant milestone that we are honoured to celebrate with Mr Grachev, Mr Dowling and his team today. 

“The listing demonstrates London’s ability to deliver substantial equity funding to ambitious businesses from around the world. It also underlines the fact that London remains the natural destination for Russian companies seeking access to international investor capital.”

Pavel Grachev, CEO, Polyus said:
“We are most pleased with the level of support and interest Polyus has received from the investment community. I am delighted to welcome our new shareholders onto the register, who comprise a broad range of investors. We had nearly 100 investment funds participating in the transaction, representing some of the largest names on the market, including emerging markets and sector specialists.

“The Company remains narrowly focused on the shareholder value creation and is well placed to build on its position as one of the largest and lowest cost producers of gold globally with a clear strategy for long term, sustainable growth and an attractive dividend profile.” 

London Stock Exchange has a strong record in funding the growth of Russian, CIS and mining issuers.  

  • 99 Russian and CIS companies are listed and traded on London’s market with a total market capitalisation of approximately $512 billion
  • Russian and CIS businesses have collectively raised $78 billion in equity and $120 billion in debt in London since 2004
  • There are 179 companies operating in the mining sector listed on London Stock Exchange with a total market capitalisation of nearly $419 billion. Collectively these companies have raised over $102 billion since 2004.

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For further information:
Alex Rittterman / Ester Russom
+44 (0)20 7797 1222