Reuters: Financial Services and Real Estate: Polyus aims to start share sale late April-sources

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Polyus aims to start share sale late April-sources Mar 30th 2012, 10:06 MOSCOW, March 30 | Fri Mar 30, 2012 6:06am EDT MOSCOW, March 30 (Reuters) - Russian gold miner Polyus Gold is likely to go ahead with a share sale worth $700 million to $1 billion in late April, paving the way for a premium listing on the London Stock Exchange, two sources familiar with the matter said. Polyus, in which tycoons Mikhail Prokhorov and Suleiman Kerimov are key shareholders, may sell up to 10.5 percent of its shares in a step that would enable it to pay down its debts, one of the sources said. The source said Polyus was likely to sell the 7.5 percent it holds in Treasury but may place up to 10.5 percent, with existing shareholders reducing their holdings, to meet listing requirements. Polyus declined to comment.

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