Russia-Linked Gold Miner Polymetal May List in Abu Dhabi - Bloomberg
Polymetal International Plc may list in Abu Dhabi, becoming the first company with majority Russian operations to trade in the Middle East, as the gold miner re-domiciles from Jersey to Kazakhstan.
Polymetal is in advanced talks with the Abu Dhabi Securities Exchange as keeping its London listing after re-domiciling is proving difficult, according to people familiar with the situation, who asked not to be identified as the matter is private. “We are studying the listing at ADX, but no decision is yet taken,” a spokesman for Polymetal said by email.
The United Arab Emirates is benefiting from Russian money and trade flows since the invasion of Ukraine, leading to Western concerns that it may be helping to ease the impact of sanctions on Moscow. Polymetal is not sanctioned.
Other companies with Russian roots are also looking at listings in the UAE, although they haven’t taken steps toward doing so, two other people said, without naming any of them.
