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%.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
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
-
Financial education: how to teach children about moneyFinancial education was added to the national curriculum more than a decade ago, but it doesn’t seem to have done much good. It’s time to take back control
-
Investing in Taiwan: profit from the rise of Asia’s Silicon ValleyTaiwan has become a technology manufacturing powerhouse. Smart investors should buy in now, says Matthew Partridge
