Norilsk Nickel to List in LSE In July

Norilsk Nickel plans to list in London Stock Exchange in July. The plan has received approval from the company’s board of directors in February, said Denis Morozov, chief executive officer of the company. The world’s largest palladium producer is in talks with Alisher Usmanov, who is planning to purchase a 10% stake in Norilsk Nickel. Speculation between Usmanov and Vladimir Potanin has lifted price of Norilsk Nickel’s shares by 5.6%. Shares of Norilsk Nickel are traded at the counter as level one American depository receipts, about 30% to 40% shares are freely traded. Aluminum giant United Company Rusal and Potanin enjoy a majority stake of Norilsk Nickel. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.