ICT Group, which is controlled by Alexander Nesis, has increased its stake in Polymetal by 7,104,530 shares or 1.51% of current charter capital, the Russian gold and silver miner reported.
The value of such a stake, based on Polymetal's latest closing price in London, is about $56 million.
The transaction increased ICT Group's stake in Polymetal to 27.44%, 4.07% of which is held in a repo deal.ICT Group is Polymetal's largest shareholder. According to the latest information, Petr Kellner's PPF Group owns 11.63% of Polymetal, Alexander Mamut's family holds 9.47% and Otkritie FC Bank holds 6.93%. Polymetal has listings on the London Stock Exchange and Moscow Exchange, and its free float exceeds 50%.