CIC and Russian Bank to Buy Gold Company Shares
Polyus Gold International Limited, the biggest gold producer in Russia, announced that its indirect, wholly-owned subsidiary, Jenington International Inc., has entered into separate agreements to sell in privately negotiated transactions. Polyus Gold International Limited is quoted to have the third largest gold reserves in the world.
151,607,496 ordinary shares, which represent 5% less one share of the company’s issued share capital to Chengdong Investment Corporation. Chengdong Investment Corporation is a wholly-owned subsidiary of CIC International Co., Ltd.
50,198,271 shares and 25,153,897 in level 1 global depository receipts representing 2.5% of the company’s issued share capital will go to JSC VTB Bank.
The purchase price for the shares is equal to US$ 2.80 per share and the aggregate gross proceeds from the two transactions will equal US$ 635.5 million. The proceeds will be used to repay outstanding loans and finance development projects.
Read more: Press Release