MOSCOW – PPF Group, owned by the Czech Republic's richest businessman Petr Kellner, has sold a 4.5% stake in Russian gold and silver producer Polymetal, a bookrunner for the deal said on Wednesday.
PPF Group, which now owns 6.5% in the Russian company, sold about 21-million shares in Polymetal at a price net of fees of £9.66 a share. The price is a 4.5% discount to the market price. The settlement of the placing is expected to take place on July 12.