BlackRock cuts its share in Polymetal for the second time in two weeks

Correspondent for Business News department
BlackRock снизил свою долю в Polymetal второй раз за две недели
BlackRock has decreased its share in the gold producer for the second time over the past two weeks / Photo: Shutterstock 

BlackRock, an American investment company, is the second biggest shareholder of Polymetal, a gold producer. According to the company’s website, BlackRock has cut its share in Polymetal – by 3.43 percentage points to roughly 4% – for the second time over the past two weeks.

Polymetal shares were sold on March 4 at $3.80 per item, the company said. Given that BlackRock has sold more than 16 million shares, it is estimated to have gained around $61.8 million.

On March 1, Black Rock decreased its share in Polymetal from 9.91% to 7.5%.

On Monday, Polymetal International closed its deal with Mangazeya Plus to sell its Russian assets (100% of shares of Polymetal JSC, a target of U.S. sanctions) four days after the company’s shareholders approved the deal.

Polymetal International is the second biggest gold producer in Kazakhstan. A consortium of investors from Oman including state-owned Mercury Investments International controls the biggest stake in Polymetal (23.9%). The remaining 75% of shares are traded on the Astana International Exchange (AIX) and Moscow Exchange (MOEX).

In early August 2023, Polymetal completed redomiciliation from the British island of Jersey to the AIFC. Polymetal has been listed on the AIX since August 10, 2023, while also maintaining its listing on the MOEX.

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