| CATEGORY: NEW ISSUES |
Metalloinvest eyes LSE listing, reports |
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Tue 26 Jan 2010
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LONDON (SHARECAST) - Iron ore mining giant Metalloinvest, which is backed by Russian oligarch Alisher Usmanov, is reportedly mulling an initial public offering on the London Stock Exchange in the first half of this year.
Reuters said the Russian group is in talks with banks over a possible share float, citing three sources close to the discussions.
One source told Reuters that Metalloinvest could raise $1-$2bn. ‘In my opinion, the company's plans to go public are primarily connected with the necessity to refinance debt,’ the source said.
The Financial Times, meanwhile, writes that a listing could value the Russian firm at as much as $20bn.
One person close to the company told the paper: ‘It is definitely a 2010 thing, and could be as soon as the first half. It is too early to say how much of a stake will be sold, but a London listing is the first choice.’
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