Russian ECM momentum continues with $400m Polymetal block

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By Sam Kerr
09 Sep 2020

Equity capital markets investors had a chance to buy Russian risk again on Tuesday evening, as Otkritie Bank sold a Rb30.4bn ($400m) stake in gold miner Polymetal.

Citi, JP Morgan and UBS were bookrunners on the deal, which was wall-crossed before launch.

Investors expected there to be another Polymetal transaction before the end of the year after a two-month lock-up restriction, which prevented Otkritie Bank from further share sales, expired on Monday.

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