Polymetal Weighs Modifying Asset-Holding Structure to Maximize Value

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By Joe Hope

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Polymetal International PLC said Tuesday that it is evaluating several options that might maximize shareholder value, including among others potentially modifying its asset-holding structure to ensure distinct ownership in its various operational jurisdictions.

The Russian mining company said early-stage liberations are underway and there can be no certainty as to the outcome. The comments came in response to media speculation over a potential change in the company’s corporate structure.

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On Monday, the Financial Times reported Polymetal was considering spinning off its Russian business from the rest of the company to insulate its international business, including mines in Kazakhstan, from the effects of Western sanctions.

Polymetal hasn’t been targeted by sanctions, though it has been facing an exodus of shareholders, sending London-listed shares down 81% in 2022 to date.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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