«Higher» postpones IPO for one or two years

© RIA Novosti / Vitaly to Incomerate in fotoracconti ingot at the booth of PJSC Higher (GV Gold). Archival photo«Higher» postpones IPO for one or two years© RIA Novosti / Vitaly to Uncovereth the image Bank

Gold mining company «Vysochaishy» (GV Gold) postpones IPO for one or two years, since the opportune moment has not yet come, said in an interview with RIA Novosti Deputy General Director for Finance and economy Sergei Gostev.

The company had earlier planned an IPO for 2018 and waited for improved market conditions. «Along with other financing options, the company is still considering an IPO in the medium term subject to market conditions,» said Gostev in the margins of the Eastern economic forum.

«The market situation today and in the near future, in our opinion, does not meet the requirements of the company for the placing shares. However, in the medium term — one to two years, IPO possible, everything will depend on situation on international markets,» he added.

«Higher» by the end of 2017 takes the seventh place in Russia on volumes of gold mining. The company’s reserves according to JORC comprise 4.4 million ounces, resources of 7 million ounces. Key enterprises and projects located in the Irkutsk region and Sakha Republic (Yakutia). «Higher» brings together 6 mining and processing plants with a total capacity of 8 million tonnes of ore per year and owns 20 mining and exploration licenses.

Fourth Eastern economic forum will be held at the site of the far Eastern Federal University campus on the Russian island on September 11-13. MIA «Russia today» is the General information partner of the WEF.

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«Higher» postpones IPO for one or two yearsIV international economic forum