Gold rush ramps up with third Polymetal block in three months

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By Sam Kerr
08 Jul 2020

Otkritie Bank, the Russian financial services company, sold a 3% stake in gold and silver miner Polymetal on Tuesday night, the third trade in the firm in three months, as investors flock to take advantage of rising gold prices.

Bookrunners sold 15.2m shares to investors at an offer price of Rb1,392 a share, according to sources, raising Rb21bn ($295m).

Citi and UBS were the joint bookrunners on the deal, which was sold at a 3% discount to the closing price.

“It is a name that continues to have ...

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