Polyus to switch to Cyrillic alphabet: parent company of the group may become Polyus Zoloto

The gold-mining company Polyus Gold of Suleiman Kerimov has begun preparations for the change of the parent company. according to sources of the Kommersant, Jersey’s Polyus Gold International should be replaced by the Russian, Polyus Zoloto. Polyus has already started a parallel listing of shares and eurobonds at the Moscow Stock Exchange (previously they were listed only on the London LSE), and now asks for the consent of bondholders to replace the parent company. The market explains this with the fact that Mr. Karimov wants to obtain "more control over the company", which is prevented by the institution of independent directors, which is required for a premium listing on the LSE.