(REUTERS) -- Russian gold miner Polyus Gold, co-owned by Russian presidential hopeful Mikhail Prokhorov, could sell shares worth $1 billion as part of its planned premium stock-market listing in London, Bloomberg reported on Monday.

The company is waiting for approval from the Russian government to go ahead with the float, and Prokhorov told Reuters earlier this month he expected the green light in the nearest future.

Bank of America Merrill Lynch and JP Morgan have been picked to arrange the deal, Bloomberg reported, alongside Russian players VTB Capital and Renaissance Capital.

Polyus is seeking to follow in the footsteps of fellow Russian miners Polymetal, which raised nearly $800 million, and Evraz, in seeking the greater liquidity and investor exposure that comes with a full London listing.

A spokesman for Polyus could not be reached for comment.

Prokhorov, worth around $18 billion according to Forbes magazine, would like to merge Polyus with another major gold miner after the listing. Canada's Kinross Gold has been cited by analysts as a possible partner.

Polyus is valued at around $9.5 billion as of Monday's closing share price.