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Nordgold plans a $ 5 billion share placement

Nordgold plans a $ 5 billion share placement
Photo: pixabay.com

Gold mining company Nordgold SE is planning an initial public offering (IPO) on the London Stock Exchange in the summer. The organization plans to place at least 25% of the shares.

As the "Nedra DV" citing the Wall Street Journal, the gold miner attracted British Bacchus Capital to place the securities. Listing on the exchange will help the subsoil user to maximize the benefits of the prolonged rise in precious metals prices and become one of the largest mining companies in the world in the next five years.

Since mid-2018, the value of gold has risen 57%, but is down 8,5% from the August high of last year.

At the end of last year, the largest gold deposit for the year was discovered in Yakutia with reserves of almost 24 thousand tons. Nordgold has registered Tokkinskoye deposit.

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