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A former executive of Kazakhmys is set for £158 million after selling his stake in the former state-run Kazakh mining group.
Ruslan Yun, who once headed its operating subsidiary in Kazakhstan, sold 11.7 million shares, representing 2.5 per cent of the company. They were placed this morning by Credit Suisse.
Mr Yun, a former Soviet civil servant, stood down as an executive of Kazakhmys last year after 30 years at the group.
The placing wiped 3 per cent from the price taking the shares to £13.06.
A spokesman for the company said that Mr Yun's placing is the last significant stake held by a ex-executive.
Former Kazakhmys chief executive, the South Korean Yong Keu Cha, sold the last of his stake in April, taking his windfall to £1.2 billion.
The executives enjoyed a bonanza after Kazakhmys shares were floated at 560p in 2005 and soared to their current level at more than £13.
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