Russia Polyus shareholders may sell 10 pct-sources

Mon Nov 16, 2009 5:45pm GMT
 
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MOSCOW, Nov 16 (Reuters) - The shareholders of Russia's top gold producer, Polyus Gold (PLZLq.L)(PLZL.MM), may sell up to 10 percent of its shares through an accelerated book-build closing on Monday, banking sources told Reuters.

Polyus' market capitalisation has nearly quadrupled to $11.23 billion in the last year.

"If the deal takes place, it will be closed this evening and the announcement will be in the morning," one source close to the deal said.

Onexim Group, the investment vehicle of Russian billionaire Mikhail Prokhorov, holds a little under 30 percent in Polyus Gold and associated shareholders another 10 percent.

The other main shareholder is tycoon Suleyman Kerimov, with 37 percent.

"As far as I know, Onexim and Kerimov are selling 5 percent of (Polyus) shares each," another source said.

Polyus and Onexim declined to comment, when contacted by Reuters. Kerimov's representatives could not be reached. (Reporting by Olga Popova and Polina Devitt, writing by Aleksandras Budrys; editing by Simon Jessop)

 

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