Petropavlovsk applied for a secondary listing in Moscow to target traders outside of London, as part of an effort to win back investors after losing most of its market value in the past decade.
The Russia-focused gold miner plans to start trading on the Moscow Exchange by the end of June, subject to approval of its listing documents, it said Friday.
While it won’t place or issue any new shares, the move should help Petropavlovsk to tap institutional and local retail investors given elevated interest in gold now, Deputy CEO Alya Samokhvalova said by phone.