25.06.2020 13:35

Petropavlovsk shares now trading on MOEX

On 25 June 2020, MOEX launched trading in shares of Petropavlovsk PLC, one of the largest Russian gold producers.

The listing ceremony was attended by MOEX CEO Yuri Denisov and Pavel Maslovskiy, CEO and founder of Petropavlovsk.

Petropavlovsk shares will join MOEX’s Level 1 quotation list and trade under the POGR ticker. Trading and settlement will be in Russian roubles.

Renaissance Capital was the organiser of the MOEX listing for the company and will act as a market maker for the security alongside VTB Capital.

The MOEX listing complements Petropavlovsk’s existing primary listing on London Stock Exchange (LSE: POG), where the shares are also included in the FTSE 250 and FTSE Gold mining indices.

MOEX CEO Yuri Denisov said:

"We are seeing a positive trend for companies to complement their primary listing outside Russia with the MOEX listing. Now with Petropavlovsk we have 12 such issuers. A MOEX listing allows companies to grow their pool of investors through new demand from Russian private investors and funds. As of today, more than 5.2 million individual investors have opened brokerage accounts to trade on MOEX, with individuals now accounting for more than 40% of total share trading volumes. For private investors, new issuers mean new opportunities to diversify their portfolio."

Petropavlovsk founder and CEO Pavel Maslovskiy said:

"Admission to trading on MOEX is an important step for Petropavlovsk, its management, employees, shareholders, and all those involved in the company’s operations. A secondary listing in Moscow will help us to integrate our exchange trading and production geography: since its foundation 25 years ago, the company has been operating and creating value in Russia. We expect this listing to add Russian institutional and retail investors to our shareholders, and believe that access to new investors will increase liquidity and strengthen the investment case for our shares as we continue to seek to add value for all of our shareholders."

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