Metalloinvest may sell part of its shares of Norilsk Nickel

Metalloinvest has employed brokers for the book building for the purchase of part of its shares in Norilsk Nickel. The holding owns about 5% shares of Norilsk Nickel (via 79 mln of ADR's).

“Kommersant” reports citing the sources, close to the shareholders of Norilsk Nickel.

The quotation of Norilsk Nickel reached objective upper limit - $20 for the ADR. Metalloinvest’s shares value made up $1.6 billion on the Moscow and London Stock Exchange on June 11th.

According to the CEO of USM Advisors (controls the assets of A.Usmanov), the chairman of the Board of Directors of Metalloinvest, I.Streshinsky, the question is about our standard operations with portfolio investments.

-We are not engaged in a focused sale of the whole package of the shares of Norilsk Nickel. We deal with monetization of the share package. We sell when the price is high and we purchase when the price is low,” the top-manager said.