Nordgold delays delisting on London exchange for a week

Nadezhda Ivanova's picture

The gold mining company Nordgold has postponed the date of the delisting of its global depositary receipts (GDR) on the London Stock Exchange for a week - from the 9th to 16th of March, the company reports.

This is done in order to synchronize the timing of the delisting with the offer to minority shareholders. The company offers its minority shareholders to redeem their securities at the price of $3.45 per GDR during the offer, which is effective from February 9th to March 16th.

The company announced the withdrawal from the London Stock Exchange on February 9th. The receipts were first placed on the stock exchange in 2012. Nordgold owns nine operating mines in four countries: four in Russia, three in Burkina Faso, one in each Guinea and Kazakhstan. The company employs over 8 thousand people.

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