MOSCOW (Reuters) - Russian mid-sized gold miner GV Gold plans to announce next week its intention to hold an initial public offering in Moscow, three financial market sources told Reuters. The privately held firm, whose shareholders include U.S. fund BlackRock, has long considered going public, having first proposed an IPO in 2007, just before the financial market crash. GV Gold declined to comment. Banks hired for the potential listing include Sberbank CIB and VTB Capital, one of the sources said on Friday. Two sources close to the matter told Reuters in February that GV Gold had hired banks including Goldman Sachs to advise on a potential London and Moscow listing that would value it at up to $2 billion. The company, which plans to produce 290,000–300,000 troy ounces in 2021, is currently Russia’s 8th largest gold producer. It intends to become one of the country’s top five gold miners in the medium term. Its 2020 net profit rose by 90% to $137 million due to higher sales and higher gold prices.
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