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Yuzhuralzoloto will place up to 5% of shares in an IPO

The gold mining company Yuzhuralzoloto (UGK), owned by Konstantin Strukov, plans to place an additional issue of shares representing up to 5% of the authorized capital on the Moscow Stock Exchange as part of an initial public offering (IPO). The company announced this on November 9, specifying that the IPO could be completed before the end of November.

The offer will only relate to the shares of the additional issue; current shareholders will not sell the securities, according to a UGK press release. According to SPARK-Interfax, the company’s president, Strukov, owns 99.99% of the shares.

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