Powerscourt is guiding Russian gold mine operator Nordgold as it seeks a listing on the London Stock Exchange.
The pure-play gold producer, which also seeks a listing on the Moscow Exchange, hopes to be included in London’s FTSE 100 blue chip index.
Nordgold runs mines in Russia, Kazakhstan, Burkina Faso and Guinea. It also has an interest in a project in Canada.
The Wall Street Journal estimates the value of Nordgold’s IPO in the $5B range. It says Nordgold’s IPO takes advantage of rising commodity prices and the fear of inflation.
Nordgold is bullish about gold prices due to the uncertainty of global financial markets, the amount of monetary stimulus being injected into the global economy, low interest rate environments and the possibility of currency reevaluations, including US dollar depreciation.
Powerscourt’s Peter Ogden and Jack Holden handle Norgold.
Jun. 3, 2021, by Joe Honick
A fascinating assignment, given some of the right wing politics here that suggest we all stay away from certain countries, and I wish Powerscout success. Now how will we treat the same kind of news that could be made public about firms dealing with the Chinese who just happen to own a reported 2,400 companies right in the United States and employing many thousands?