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Polyus Gold confirms intent to sell 7.5% stake

The company says it remains its intention to dispose of the 7.49% stake held by its subsidiary, Jenington International Inc, as it continues its goal of winning a premium listing in London.

MOSCOW (Reuters)  - 

Russia's largest gold firm, Polyus Gold (PGIL), said on Thursday it continues to work towards its goal of winning a premium listing in London and selling a 7.49 percent stake held by its subsidiary, Jenington International Inc.

"It remains PGIL's intention that Jenington should dispose of its stake in PGIL and it continues to review its options for doing so in the short term," the company said.

It added that there can be no assurance as to whether or when the sale of the Jenington stake will occur.

Polyus issued the statement "in response to recent media speculation" after Reuters reported on Wednesday that the company may be close to selling shares to investors as part of plans for the premium London listing.

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