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Deja Vu.Russian Miner Eyes London Flotation

Posted on June 27, 2011 at 9:46 PM

I forgot something earlier , so I'll be brief. Polymetal, the Russian gold and silver mining company, is apparently preparing a listing on the London Stock exchange with a price tag in the region of £5bn.

The Sunday Telegraph had the story. It said that, aside from Glencore, the float would be "one of the largest natural resources flotations of the year so far, cementing London's reputation for mining companies."

Cementing London's reputation - indeed. We appear to have major shareholders, a founder with a 20% stake, and a Cypriot vehicle involved for a share transfer.

Surely it's time to start looking at London listings for Russian companies with a bit more care ?

Categories: Scrutiny, Governance, IPO