Russia’s Nordgold to raise free float share in capital to 30%

MOSCOW, Apr 27 (PRIME) -- Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, will raise the share of free float in its capital to 30%, the company said in a statement Monday.

“The board of directors has approved further strategic initiatives on the capital market to raise the company’s capitalization… including getting premium listing on the London Stock Exchange, by raising its free float stake to 30%,” Nordgold said.

The company also said it plans to cut the debt burden and to pay 30% of the adjusted net profit attributable to shareholders in interim quarterly dividends. The details of the plans will be made public later on Monday at an investor day, the company said.

End