MOSCOW, December 7 (RIA Novosti) - Shares in Norilsk Nickel will be traded pursuant to non-anonymous orders on the Russian Trading System (RTS) from December 20, 2005 through January 13, 2006 to enable the Russian metals giant to go ahead with its reorganization plan, the RTS press service said Wednesday.
Under the plan, Norilsk Nickel will divest its gold mining assets and transfer them to the recently established Polyus Zoloto ("pole gold") public company.
Shares in Polyus Zoloto will be distributed proportionately among Norilsk Nickel shareholders. Polyus Zoloto will be able to raise funds through public subscription, and sell its shares freely.
Norilsk Nickel is one of the world's largest precious and non-ferrous metal producers, accounting for over 20% of the world's nickel output, and over 10% of cobalt and 3% of copper.
The company produces 96% of Russia's nickel, 55% of its copper and 95% of its cobalt.
