Russia’s ICT raises stake in Polymetal to 26.87% from 23.9%

MOSCOW, Sep 29 (PRIME) -- Powerboom Investments Ltd, a unit of ICT Holding Ltd. controlled by Russian tycoon Alexander Nesis and his partners, has increased its stake in precious metals producer Polymetal International to 26.87% from 23.9%, Polymetal said in a statement Thursday.

On Wednesday, Polymetal said that Fodina B.V., a unit of Czech Republic’s PPF Group NV, decreased its stake in the company to 12.92% from 15.96%, while Staroak Limited, controlled by Czech businessman Jiri Smejc, which previously held around 4.76% in Polymetal, decreased its stake in the company below the minimum disclosure threshold.

Morgan Stanley said earlier in September that PPF Group and Staroak Limited could jointly sell up to 26 million common shares, or 6%, in Polymetal. ICT planned to take part in the offer.

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