Russia's top gold producer Polyus is committed to increasing its free float to at least 10 percent and obtaining a listing in London, Chief Executive Pavel Grachev told Reuters in an interview. "We have always said we will aim to meet the Moscow Exchange requirement of at least 10 percent of the free float," Grachev said. The company's free float currently stands at 6.7 percent, he added.
Grachev also said Polyus is interested in listing global depositary receipts in London. On Wednesday a consortium of investors led by China's Fosun International Ltd said it would buy a 10 percent stake in Polyus for $887 million, with an option to increase its stake by another 5 percent. Polyus plans to commission its new Natalka development project in the east of Russia by the end of 2017.