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Russian miner Petropavlovsk (POG.L) reported it continues to explore strategic options for its iron ore operations, including a possible listing in Hong Kong, as it seeks to gain a better valuation for the business.
Russian miner Petropavlovsk (POG.L) reported it continues to explore strategic options for its iron ore operations, including a possible listing in Hong Kong, as it seeks to gain a better valuation for the business.
The press release is quoted as saying:
It is learnt that leading Hong Kong-based investors agreed to take a $60 million equity stake in the group’s non-precious metals division, valuing the iron ore operations at $860 million. Last month, the Financial Times said a listing could value the iron ore unit at $1.5 billion.