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Comment by Boris Kvasov, director, equity capital markets at VTB Capital, for Bloomberg

30 June 2017
Bloomberg

UK Investors Bought About Half of Polyus Shares in SPO

Over 80 institutional investors bought Polyus shares in placement of Russian gold producer, Boris Kvasov, director of equity capital markets at VTB Capital, comments by email.

  • Top 10 allocations comprised about 60% of sale

  • UK investors bought ~50%, North American investors, incl. Canada, about 20%, Russia >10%, Continental Europe ~10%, Middle East <10%

  • Long-term investors received almost 80% of allocations

  • Sovereign funds got slightly below 10%, Russian pension funds below 1%

  • Polyus priced share sale at $66.50 apiece, raising about $800m 

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