AUCOY - Polymetal studying potential demerger of Kazakh mining unit - FT

Polymetal (AUCOY +30.8%) is considering a potential split of its Russian and Kazakh businesses, each with its own stock listing, to insulate its international business from the effects of the sanctions on Russia, Financial Times reports. Investors would have the option to retain holdings in both companies or to sell their shares in the Russian business, according to the report. Polymetal is not subject to Western sanctions imposed on Russia for its invasion of Ukraine, but its shares are down more than 75% as Russia-related stocks have sold off since February 24. The company produced 1.7M gold equiv. oz. in 2021, including 558K oz. produced by its two mines in Kazakhstan. Trading in Polymetal shares is "reminiscent of a call option with no expiry date," Oyat writes in a bullish analysis newly published on Seeking Alpha.

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Polymetal studying potential demerger of Kazakh mining unit - FT