November 14, 2017 / 5:26 PM / a year ago

Russia's Cherkizovo to drop London listing, considers Moscow offer

A man walks past a Russian meat company Cherkizovo sign at the Tambov Turkey facility, a joint venture between Cherkizovo and Spanish agricultural holding company Grupo Fuertes, outside Tambov, Russia May 30, 2017. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Cherkizovo (GCHE.MM) CHEq.L, Russia’s biggest meat producer, has decided to cancel its London listing due to low trading since February and has decided to consolidate its free-float and trading in its shares in Moscow, it said.

“In the context of its new capital markets strategy, the company is also evaluating a range of alternatives available to it, including a potential equity offering of ordinary shares on the Moscow Exchange,” it added in a statement.

Reporting by Polina DevittEditing by Greg Mahlich

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