SUEK expects to attract about $ 1 billion in its IPO
By admin at 15 February, 2010, 4:16 pm
Siberian Coal Energy Company (SUEK) is planning to raise about $ 1 billion in its IPO on the London Stock Exchange, reported Reuters citing sources "familiar with the plans of the company." During the deployment, which will be held no earlier than March, but, according to other sources, in the early summer of 2010, the company intends to exchange for 10% of the shares. $ 750 million SUEK expects to attract at the expense of issuing new shares.
According to the agency, global coordinators1000and book runners of the coal company"s IPO on the LSE will become Citigroup, Credit Suisse and VTB, the transaction will be attended by "Renaissance Capital" and BofA-ML.
In December of Independent reported that in 1 half of 2010 SUEK plans to hold IPO in London and Moscow. "Russia"s billionaires Andrei Melnichenko and Sergei Popov resurrected plans for an IPO SUEK, the fifth-largest exporter of coal" - the newspaper. According to her figures, during the IPO company that is ready to go to the stock exchange as early as 2008, can be estimated at $ 9 billion was also reported that SUEK post on the stock exchange 25% of the shares.
SUEK - Russia"s largest coal association. The company provides more than 30% of the energy supply of coal on the domestic market and approximately 30% of Russia"s exports of thermal coal. Branches and subsidiaries are located in SUEK Transbaykal, Krasnoyarsk, Primorsky and Khabarovsk Territories, Kemerovo region, Buryatia and Khakassia.
"The basis of a SUEK originally was the idea of obtaining a synergistic effect of the coal and electric power lines of business. Therefore, creating a vertically integrated fuel and energy company, its priorities in the power we have, first of all concentrate in power systems using coal as the primary fuel, "- said on its Web site. SUEK is the major shareholder Kuzbassenergo "and OJSC" Yenisei TGC.
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