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Petropavlovsk PLC - Russian gold producer - Says listing on Moscow Exchange will be re-classified to level 3 from level 1 starting Tuesday. ‘It is usual practice for MoEx shares listed by a non-domestic issuer to be assigned to one of three different levels, with companies included as part of level 3 considered as satisfying only basic listing requirements,’ it says. This means only qualified retail investors will be allowed to buy its shares on Moscow Exchange, while pension funds will be ‘forbidden’ from buying the stock.
Current stock price: 1.02 pence, down 11% on Monday
12-month change: down 96%
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