Russia's OGK-1 9-month net profit rises

Polyus ready for London listing in current market conditions-report

MOSCOW Dec 1 (Reuters) - Russian gold miner Polyus Gold is ready for a premium listing on the London Stock Exchange in current market conditions, Dmitry Razumov, chief executive at Onexim group, the owner of a blocking stake in Polyus, told Kommersant daily.

"We are heading towards the premium listing and will definitely get it," Razumov told the daily in an interview, published four days after an investment committee chaired by Prime Minister Vladimir Putin said it would not consider approval for the Polyus move until 2012.

Razumov said the company, part controlled by tycoon Mikhail Prokhorov, will not proceed with listing only if there is "a total collapse (of the global market)," according to the daily.

But if market conditions are similar to present, Polyus will hold the listing and its shares will be included in the FTSE-100 index, which is essential for "an adequate valuation" in case of a possible merger with other companies, he told the newspaper.

Razumov did not give an immediate comment on the report.

Polyus faced hurdles with London listing a few months after Prokhorov had suddenly left Russian politics following an acrimonious clash with the Kremlin ahead of parliamentary elections in December and the presidential vote in March.

Thursday, December 01, 2011

http://www.menafn.com/qn_news_story.asp?storyid={fdaf2e04-d821-46ae-a873-230e967b6fd2}

LONDON, Dec 01, 2011 (Dow Jones Commodities News via Comtex) -- Trans-Siberian Gold PLC (TSG.LN), a Russian gold mining company, said Thursday that the Russian State Commission for Reserves has approved the expert opinion on the report on reserves and pre-feasibility study of the Rodnikova deposit, with a recommendation for underground mining. MAIN FACTS: -Commission has recorded Rodnikova's mineral resources as 5.8 million tons of ore in the C1+C2 categories, at an average grade of 5.3 g/t gold and 44.6 g/t silver, at 2 g/t gold cut-off, with C1+C2 category reserves of 30,887.6 kg gold and 258.3 tons silver. -First $1.5 million repayment of the $43 million finance facilities provided by a Russian bank for the development of the Asacha project was effected on Nov. 28, three weeks before the due date. -Shares at 0815 GMT up 1 pence, or 0.7%, at 68.5 pence valuing the company at GBP70.86 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires 12-01-11 0319ET Copyright (c) 2011 Dow Jones & Company, Inc.

Rusal taps $582m loan

http://www.rbcnews.com/free/20111201112841.shtml

      RBC, 01.12.2011, Moscow 11:28:41.Rusal has contracted a five-year RUB 18.3bn (approx. USD 582.8m) credit facility from Russia's largest lender Sberbank to refinance its debt, according to materials released by the aluminum giant.

      The credit line will be available for one year from the date of the contract.

      In October 2011, Rusal refinanced loans totaling $11.4bn, including a five-year $460m loan from Sberbank.

Prokhorov May Buy Kerimov’s MFK Bank Stake, Kommersant Says

Mikhail Prokhorov, Russia’s third- richest man, may buy fellow billionaire Suleiman Kerimov’s stake in MFK Bank, Kommersant reported, citing Dmitry Razumov, the head of Prokhorov’s Onexim Group holding company.

Prokhorov already controls 27.7 percent of MFK, while billionaires Viktor Vekselberg and Alexander Abramov each own 19.7 percent. Yekaterina Ignatova, wife of Russian Technologies Corp. chief Sergei Chemezov, owns 13.1 percent.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

UPDATE 1-Nomos Bank Q3 net misses forecast on trade loss

* Profits hurt by revaluation of securities portfolio

* Loan portfolio up 17 pct vs previous quarter

* Profits come in lower than expected (Adds background)

MOSCOW, Dec 1 (Reuters) - Russian mid-sized lender Nomos Bank on Thursday posted a net profit which came in below expectations due to a significant trading loss as it revalued its securities portfolio, but said that it had grown its loan assets.

Its loan portfolio now represents more than 70 percent of its assets, and loans increased by 17 percent compared to the previous quarter, driven by increases in small business and retail loans, Nomos said.

Its third quarter net profit of 768 million roubles ($25 million) compared to a 1.75 billion rouble profit the previous year. It reported a 2.64 billion rouble ($85.95 million) loss from trading operations.

Nomos said profits were hurt by a revaluation of its securities portfolio, mostly represented by high quality Russian corporate bonds. These losses have been partially recovered as of November, the bank said.

Nomos, which raised $782 million in an initial public offering in London and Moscow earlier this year, had been expected to post a 49 percent drop in third-quarter net profit to 933 million roubles ($29.8 million) after payments to minor shareholders, a Reuters poll of 10 analysts showed on Tuesday.

Shares rose 5.6 percent, or 34 roubles to 650 roubles.

State lender Sberbank, Russia's largest bank, on Wednesday beat analyst forecasts and raised its full-year profit forecast, on loan growth and higher margins. [ID: nL5E7MU066]

($1 = 30.7143 Russian roubles) (Writing by Megan Davies and Andrey Ostroukh; Editing by Helen Massy-Beresford)

http://www.bne.eu/dispatch_text18082

bne
December 1, 2011

Putin associate, banker Vladimir Kogan has closed a deal to sell his stake in OAO Mosmetrostroy to General Director Yevgeniy Kashin and other managers, a source of the Moscow City Hall said, according to newswires. Kogan acquired the company one year ago. A recent investigation by business daily Vedomosti showed that the company had one two-thirds tenders for a huge metro expansion project. Prior to purchasing the company, Kogan oversaw it as a government official responsible for infrastructure.