19th Jun 2020 08:59
(Alliance News) - Petropavlovsk PLC on Friday said it has submitted an application to list its shares on the Moscow Stock Exchange.
The Russia-focused gold miner with offices in London and Moscow said the secondary listing will complement its listing on the London Stock Exchange. It will allow it to benefit from a large number of Russia-based investors who are in some cases unable to purchase shares in London.
"A secondary listing in Moscow, in addition to our primary London listing, will allow a broader spectrum of investors to actively participate in the growth prospects of Petropavlovsk. Access to a new pool of institutional investors and to more than five million private investors registered with MoEx alone, will help to diversify and grow our investor base, Chief Executive Pavel Maslovskiy said.
"The company expects it will also be eligible for inclusion as part of the flagship MoEx Russia Index/RTS Index later in the year. In turn, this will provide additional liquidity to the stock, higher visibility and trading volumes, while simultaneously increasing the appeal of the company in Russia," he added.
Petropavlovsk shares were trading 1.2% higher at 28.33 pence each on Friday morning in London.
By Ife Taiwo; [email protected].
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