Polymetal's London Listing More than 50% Subscribed

Russian miner Polymetal's placement book for its London listing is more than 50 percent subscribed after the company opened it a day before, two sources close to the deal told Reuters on Tuesday.

The company, which is seeking a place on the full London stock exchange and entry to the FTSE 100 index , set the initial price range for the placement at 9.10-10.35 pounds a share, sources said on Monday.

The gold and silver miner, which plans to issue 50 million primary shares, is reportedly seeking to raise $826.3 million.

A greenshoe option could add another 5 million shares to the total.

Polymetal, owned by Russian tycoons Vitaly Nesis and Alexander Mamut as well as Czech private equity group PPF, is one of three Russian companies hoping to get a place in Britain's blue-chip index by the year end.