Polyus Gold, the country's largest gold miner, said on Thursday that its main shareholders, tycoons Mikhail Prokhorov and Suleiman Kerimov, were prepared to sell up to a total of 5 percent of the company.
Polyus said in a statement that companies related to Prokhorov's investment vehicle, Onexim Group, and Kerimov's Nafta Moskva intended to sell the stake in the form of shares and/or American Depositary Receipts.
The sale is subject to market conditions and is expected to be executed through an accelerated book-building process, Polyus said. Credit Suisse Securities (Europe) Ltd and Renaissance Securities (Cyprus) Ltd are the joint bookrunners.
Prokhorov's Onexim holds a little less than 30 percent in Polyus Gold and associated shareholders another 10 percent. Kerimov's Nafta Moskva has 37 percent.
Polyus Gold's current market capitalization is $11.24 billion.
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