Gold mining company Yuzhuralzoloto (UGK) raised 7 billion rubles during its initial public offering (IPO), the company said in a statement.

Gold mining company Yuzhuralzoloto raised 7 billion rubles during its IPO

The placement price was 55 kopeks per share, which corresponds to the lower limit of the price range (55 to 60 kopeks per share).

As a result of the IPO, the company’s market capitalization at the start of trading will be 117 billion rubles.

It is observed that aggregate investor demand has far exceeded supply. During the IPO, 12.7 billion shares were placed. “Strong demand from all categories of investors allowed us to increase the placement volume to 7 billion rubles, taking into account the size of the stabilization package,” the report notes.

SGC managed to attract more than 70 thousand new investors to the social capital structure. The proportion of large institutional investors was around 50%. The proportion of the company’s shares in free float amounted to approximately 6% of the company’s increased share capital.

The Moscow Stock Exchange included shares of the gold mining company Yuzhuralzoloto in the “second tier” section of the list of securities admitted to trading on November 22. Commercial ticket – UGLD.

  • YuGK is one of the largest gold mining companies in Russia. The company itself estimated that it ranks fourth in the Russian Federation in terms of gold production and second place in terms of gold resources in Russia.
  • The SGC’s measured, indicated and inferred (MI&I) resources amount to 40.7 million troy ounces of gold equivalent. The company’s assets include fields in the Chelyabinsk region and the Republic of Khakassia. The company is also developing an alluvial gold deposit in the Krasnoyarsk Territory.

The day before, the operator of the Russian gas station network, Eurotrans, raised 13.5 billion rubles during an initial public offering on the Moscow Stock Exchange.

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Anastasia Marina

Source: RB

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