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Polymetal's biggest shareholder raises $443 million from 4% stake sale

MOSCOW (Reuters) - Russian gold and silver producer Polymetal's POLYP.L biggest shareholder has raised 342 million pounds ($443 million) from the sale of a 4% stake in the company through an accelerated book building (ABB), a bookrunner said on Friday.

IST Group, owned by businessman Alexander Nesis, sold 19 million shares in Polymetal, it added.

It is the fifth ABB by Polymetal shareholders this year, analysts at Sova Capital said in a note. Despite selling 4%, IST will remain as Polymetal’s largest shareholder with a 24% stake.

Reporting by Polina Devitt and Anastasia Lyrchikova; Editing by David Goodman

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