The company of Chelyabinsk oligarch Strukov from the Forbes list will sell shares on the Moscow Exchange

The company “Yuzhuralzoloto Group of Companies” (Chelyabinsk region) of businessman Konstantin Strukov, who is on the Forbes list of the richest Russians, may for the first time put up for sale shares of the company on the Moscow Exchange before the end of the year. The international news agency Reuters reports this with reference to sources in the financial market.

“The Russian gold mining group Yuzhuralzoloto is preparing for an initial public offering (IPO) before the end of this year. The company is almost 100% owned by businessman Konstantin Strukov,” the agency said in a statement.

The Reuters information was confirmed by three sources in the financial market. One of them said that the placement of shares on the Moscow Exchange is planned “within current market parameters.” We are talking about attracting several billion rubles. In the company itself Yuzhuralzoloto did not comment on the situation.

After February 2022, there were few IPOs on the Moscow Exchange with low volumes of funds raised. But investors were encouraged by the placement of the Astra group, which last week attracted 3.5 billion rubles, the agency notes.

Previously, the company Yuzhuralzoloto, owned by businessman Strukov, was ordered by the Moscow Arbitration Court to pay 1.3 million euros. The debt was formed under two contracts for the supply of equipment by the Swedish company Sandvik Mining and Construction CIS. The agreement was signed on February 24, 2021. According to it, the company supplied equipment for mining operations, rock excavation and provided equipment engineering. Strukov’s company must pay another 200 thousand rubles as state duty.