Polymetal block auctioned fast as equity gold rush heats up

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By Sam Kerr
01 Jul 2020

Investors welcomed a 12.5m block sale in Polymetal, the Russian miner of gold and other precious metals, on Tuesday night and poured into the trade following a risk auction.

Morgan Stanley was the sole bookrunner on the £197.5m deal sold by Czech billionaire Petr Kellner’s PPF Group through the vehicle Fodina BV.

The trade was covered in minutes. Investors had been reversing into Morgan Stanley and other banks from Monday, expressing an interest in Polymetal, because of ...

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