GV Gold, one of Russia’s largest gold miners, has postponed a planned initial public offering (IPO) because of what its chief executive officer has described as “elevated levels of market volatility in global and Russian capital markets”.
The IPO was to be held on the Moscow Exchange. Trading had been scheduled to start on March 30.
“[We] look forward to becoming a public company in the future when conditions are more favourable,” a GV Gold statement quoted CEO Vladislav Barshinov as saying.
GV Gold, also known as Vysochaishy, announced its IPO plan on March 15.
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