JOHANNESBURG (miningweekly.com) – Russian gold miner Nordgold has confirmed it will delist its Global Depositary Receipts (GDRs) from the LSE.
“We have made significant progress in building a strong record and have generated considerable goodwill among the international investment community; however, our GDRs have never reflected the true value of the business,” chairperson David Morgan said in a statement on Thursday.
He added that a premium listing at current market values would be highly dilutive to current investors and, therefore, not in the interests of all shareholders.
“We expect to return to the public markets in the coming years as a larger, more profitable business and one which we believe will be better suited to a listing."
The GDR termination date is expected to be March 21.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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