POYYF - Polymetal: Buy The Dip

Summary

• Polymetal has disclosed its intention to redomicile to Kazakhstan.
• This likely means that the company will lose its premium listing in London and move its primary listing to Astana.
• It will try to relist in London, or on a different exchange, in order to ensure adequate liquidity in the short term.
• In the longer term, Polymetal aims to spin off the Russian assets into a separate entity.
• The remaining company will no longer have any association with Russia and will be tradable in London, and potentially on another major exchange.

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