Polyus Gold International Ltd., Russia’s largest gold producer, plans to cancel its Russian unit’s American Depositary Share program after completing a mandatory buyback offer for the company’s shares.
OAO Polyus Gold will apply to the U.K. Listing Authority and the London Stock Exchange to cancel the listing and admission for trading of the ADS, it said in a statement today. The termination may be effective from Jan. 20, it said.
Polyus Gold International owns 92.95 percent of the Russian unit after completing a mandatory offer to buy back shares from minorities in November, it said. Together with ADS controlled by its Jenington International unit, the Jersey-registered company holds 95.31 percent of OAO Polyus Gold, it said.