Oligarchs flock to sell shares as Russia bid returns

Eclipse_yacht_230x150
By Sam Kerr
04 Apr 2019

Russian equity capital markets are red hot again, after almost two years in the cold, with supply being driven by some of Russia’s most powerful oligarchs. As investors warm to Russian equities, more of these billionaires are set to monetise some of their holdings, writes Sam Kerr.

The latest example came from Polyus Gold International Ltd, a holding company controlled by Said Kerimov, the son of the billionaire Russian senator Suleiman Kerimov. PGIL sold a stake in gold miner Polyus Gold on Wednesday night.

The 3.8% stake, sold in the form of GDRs, raised $390m. ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial