Polymetal to price its IPO at EUR 10,4 per share

Polymetal, the world's fifth-largest silver producer and the latest Russian miner to list in London, is expected to price its initial public offering at EUR 10,4 per share.

The total amount of the offering equals 53,35M new shares, which is about 13,8% of the share capital. Within the IPO the company is planning to raise about EUR 546M.

The market capitalization of the new company will equal over EUR 4B with the expected free float of 50,7%. Morgan Stanley, HSBC, Deutsche Bank и VTB Capital will be book runners of the IPO.