Polymetal International Plc, the parent company of Russian Polymetal, is discussing the possibility of listing on the Abu Dhabi stock exchange, the agency reports. Bloomberg with reference to sources. The decision comes amid plans to re-register Polymetal from Jersey to Kazakhstan.
If Polymetal agrees to list on the Abu Dhabi Stock Exchange, it will become the first company with a majority of Russian operations to trade in the Middle East, Bloomberg notes. Negotiations are at a preliminary stage, it will not be easy to keep the London listing after the re-registration, sources familiar with the situation said.
“We are looking into an ADX listing but no decision has been made yet,” a Polymetal spokesperson said via email. Polymetal’s initial listing is taking place in London. Trading in shares and depositary receipts of Russian companies in London and New York was suspended in 2022. Polymetal is not under sanctions.
Read more about the division of business in the publication “Kommersant” “Polymetal does not sell Russian assets.”