The Russian miner Petropavlovsk PLC (Petropavlovsk) has announced that it has submitted a listing application form for its non-precious metals division to the Stock Exchange of Hong Kong Limited.
As SteelOrbis previously reported, on June 7 this year Petropavlovsk said that its intends to explore further strategic options for its non-precious metals division including a possible listing of its iron ore operations in Hong Kong.
Also on June 7, Petropavlovsk announced that Hong Kong-based investors had agreed to take a $60 million equity stake in the group's non-precious metals division, valuing the iron ore operations at $860 million, following the investment.