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HONG KONG EXCHANGES AND CLEARING LIMITED

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Delayed Hong Kong Stock Exchange  -  11:49 2022-08-07 pm EDT
356.20 HKD   -0.50%
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LME examining UK's sanctions on Nornickel boss Potanin

06/30/2022 | 06:23am EDT
Traders work on the floor of the London Metal Exchange, in London

LONDON (Reuters) - The London Metal Exchange (LME) is examining sanctions which Britain has imposed on oligarch Vladimir Potanin, chief executive of Nornickel, the world's largest refined nickel producer, the exchange said on Thursday.

"We are looking into the detail of the sanctions and what it may mean for the LME, its participants, and Norilsk brands," a spokesperson of the LME said in a email.

Potanin, known as Russia's "Nickel King", was included in sanctions that Britain announced on Wednesday which included business figures, financial firms and other entities.

Nornickel said that its lawyers were looking at the impact of the British sanctions on Potanin, who is also the company's major shareholder.

"We are monitoring developments in respect of Russian sanctions closely. We note the UK government's announcement on 29 June of new sanctions against Vladimir Potanin," the world's oldest and largest market for industrial metals said.

The LME is owned by Hong Kong Exchanges and Clearing Ltd.

(Reporting by Eric Onstad and Pratima Desai; editing by Jason Neely)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
HONG KONG EXCHANGES AND CLEARING LIMITED -0.50% 356.2 Delayed Quote.-21.39%
PUBLIC JOINT STOCK COMPANY MINING AND METALLURGICAL COMPANY NORILSK NICKEL 1.03% 16720 End-of-day quote.-26.76%
S&P GSCI INDUSTRIAL METALS INDEX -0.18% 433.4989 Real-time Quote.-13.00%
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Financials
Sales 2022 20 739 M 2 642 M 2 642 M
Net income 2022 12 377 M 1 577 M 1 577 M
Net cash 2022 50 153 M 6 389 M 6 389 M
P/E ratio 2022 36,7x
Yield 2022 2,40%
Capitalization 453 B 57 712 M 57 712 M
EV / Sales 2022 19,4x
EV / Sales 2023 16,7x
Nbr of Employees 2 146
Free-Float 94,1%
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Mean consensus BUY
Number of Analysts 29
Last Close Price 358,00 HKD
Average target price 424,48 HKD
Spread / Average Target 18,6%
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Managers and Directors
Alejandro Nicolas Aguzin Chief Executive Officer & Executive Director
Bik Yun Lau Group Chief Financial Officer
May Lung Cha Non-Executive Chairman
Chung Kwong Leung Group Chief Technology Officer
Trevor William Spanner Group Chief Information Officer
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