Russia’s GV Gold prepares IPO on Moscow Exchange

MOSCOW, Mar 15 (PRIME) -- GV Gold, one of Russia’s top 10 gold producers, plans to float shares on the Moscow Exchange in an initial public offering (IPO), the company said in a statement on Monday.

The shares will be included in the level 1 securities list.

The offer will include shares of the core shareholders -- Sergei Dokuchayev, Natalya Opaleva, Valerian Tikhonov, Sergei Vasilyev, BlackRock Global Funds, and BlackRock Gold and General Fund. GV Gold will not sell shares and will not receive any money from the placement.

Goldman Sachs International, SberCIB, UBS Investment Bank, and VTB Capital will act as joint global coordinators and joint bookrunners of the IPO, while Raiffeisen Bank International and Sova Capital will act as co-bookrunners.

A source familiar with the matter told PRIME that GV Gold may raise up to U.S. $500 million from the IPO, and that the company was evaluated at $1.5–1.8 billion.

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