February 9, 2017 / 7:18 AM / 6 months ago

Russia's Nordgold says to de-list from London Stock Exchange

MOSCOW, Feb 9 (Reuters) - Russian gold miner Nordgold said on Thursday it intended to de-list its global depositary receipts (GDRs) from the London Stock Exchange.

Nordgold, which said last month it was considering de-listing, said it believed its market capitalisation did not accurately reflect the true value of the company.

GDR holders will be given the choice to exit or stay as shareholders of the company, Nordgold said, adding it could return to public markets in future as a larger gold producer.

Nordgold offered shareholders the right to sell their GDRs to the company at a price of $3.45 per GDR. (Reporting by Polina Devitt and Alexander Winning; Editing by Andrew Osborn)

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