VTB withdraws from Polymetal equity – bank

TASS Russian News Agency | May 15, 2019 at 12:35 PM

MOSCOW, May 15. / TASS /. VTB financial institution has reduced its stake in Polymetal International plc to zero from 12.63%, the institution said in a statement on Wednesday.

According to the report, on May 14, the bank withdrew from the capital of the gold miner as part of the repo transaction.

Polymetal is the largest silver producer in Russia and one of the leading gold miners. The company’s production and geological exploration are conducted in four regions of Russia - Magadan and Sverdlovsk regions, Khabarovsk Region and in Chukotka Autonomous Region, as well as in Kazakhstan and Armenia.

Polymetal shares are traded on the Moscow and London stock exchanges. The largest shareholders of the company are ICT Group (27%), PPF Group (12.7%) and Oktrytie Bank (7%), while free float totals approximately 60%.