LONDON, Jul 26 (PRIME) — Russias leading gold producer Polyus Gold has completed a merger with its subsidiary, Kazakh mining company KazakhGold, KazakhGold said in a statement Tuesday.
The united company is to be renamed to Polyus Gold International.
Under the deal, KazakhGold has acquired Polyus Golds common shares and American Depositary Receipts (ADRs) representing a total of 89.14% of Polyus Golds issued share capital.
As a result, KazakhGolds charter capital amounts to 3,032,149,962 shares with a face value of 0.0001 British pounds each.
KazakhGold also said that 2,985,049,962 Global Depositary Receipts (GDRs), with one GDR representing one common share, were admitted to trading on the London Stock Exchange (LSE).
Polyus Gold is a leading gold producer in Russia and Kazakhstan. As of late 2010, Russian tycoon Mikhail Prokhorovs Onexim Group and businessman Suleiman Kerimovs Nafta Moskva held around 40% in Polyus Gold each.