Russian billionaire Kerimov builds stake in ENRC
Shares in natural resources giant ENRC moved higher after Russian billionaire Suleiman Kerimov bought a 2.86 per cent stake in the group.
Shares in natural resources giant ENRC moved higher after Russian billionaire Suleiman Kerimov bought a 2.86 per cent stake in the group.
Kerimov's purchase, which is estimated to have cost in the region of $176m, takes his share in the company to 3.05%.
Shares in the stock were driven higher at the end of last week in expectation of the transaction.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Kerimov also owns the single largest stake in the largest gold miner in Russia, Polyus Gold.
ENRC is currently the subject of an investigation by the UK Serious Fraud Office related to claims over allegations of bribery and whistle-blowing.
The company's share price leapt 6.29% to 311.10p by 14:50 Tuesday.
NR
-
Zoopla: housing market recovery continuing amid brighter 2024 outlook
The Zoopla House Price Index has found sellers are still accepting five-figure discounts on their properties. But house price inflation is improving.
By Henry Sandercock Published
-
Revealed: the best funds to buy before the end of the tax year
Looking to add more investments to your portfolio but not sure where to start? We reveal the best funds to buy now as the end of the tax year edges closer.
By Katie Williams Published