Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Polyus Sells Share Packages

Polyus Gold closed the sale of 5 percent minus one share to China's Chengdong and 2.5 percent of its shares to VTB Bank, Interfax reported Friday.

The seller of the shares was a company in the metallurgical group Jenington International. The total cost of the sale came to $635.5 million.

Polyus Gold International, which controls Russian gold producer Polyus Gold, sold ordinary shares to Chengdong, a subsidiary of the Chinese sovereign fund CIC International, and shares and first-level Global Depositary Receipts to VTB. Chengdong and VTB entered into lock-up agreements stipulating that they will not sell their Polyus shares for 180 days after the completion of the deal.


Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.