On Thursday, 25 June 2020, shares started trading on MoEx complementing the Company’s primary listing on the London Stock Exchange.
Buchanan has worked with Petropavlovsk since January 2018, when it was in a position of having a debt:equity ratio of 2:1, uncertainty surrounding its business strategy of building its POX hub, as well as significant instability of the constitution of its management Board. During the last two and a half years the debt/equity ratio has reversed to 1:2, the share price has increased by a factor of over four times, analyst research has doubled to 8 covering analysts, propelling the rating of the business resulting in the market valuation increasing by over four times from £250 million to more than £1 billion (as at 25 June 2020), resulting in Petropavlovsk returning as a constituent of the FTSE250 Index.
In support of the MoEx milestone, Buchanan implemented a targeted media campaign including an exclusive interview with Bloomberg while working closely with Petropavlovsk’s IR team in Moscow, ensuring clear messaging that aligned in both markets.
The Russian-focused gold mining company expects to benefit from gaining access to an enlarged pool of institutional and Russia-based retail investors given elevated interest in gold. The secondary listing reflects the Company’s ambitions to become one of the leading gold producers in Russia.
2020 has marked a strong year so far for Petropavlovsk with the share price rising by 152.4% YTD, building on its position as the best performing gold stock listed in London in 2019.