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Gold mining company Nordgold confirms IPO plans

MOSCOW, June 10 – PRIME. Nordgold has confirmed plans to conduct an initial public offering (IPO), the company said. Moscow Exchange has admitted to trading shares of gold mining Nordgold Nordgold plans to be listed on the London Stock Exchange (LSE), which is expected to be admitted to trading in late June – early July. In addition, Nordgold’s common shares were admitted to trading on the Moscow Exchange on Wednesday. The securities are included in the first quotation list of the trading platform with the trading code NORD. Currently, the main shareholders of the company are Alexey Mordashov and his sons, Kirill and Nikita, who together account for 99.94% of the authorized capital. Nordgold already placed its securities on the LSE in January 2012, but delisted in early 2017, but did not rule out a return to public markets in the future. As part of the IPO, it is planned to place existing shares of the company. Ocean Management Limited will be the seller of the placement. Free-float of Nordgold after placement must be at least 25%. The company expects its shares to be included in the FTSE UK indices. Nordgold owns nine operating mines (four in Russia, three in Burkina Faso, one each in Guinea and Kazakhstan). Nordgold also has several promising feasibility studies in Burkina Faso, Russia, French Guiana and Canada. In 2020, the production of gold by the company in Russia and abroad amounted to 1,045.6 thousand ounces (32.5 tons), in January-March 2021 Nordgold produced 241.1 thousand ounces (7.5 tons) of gold, 7% higher than the same period 2020.

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