Russian oligarch Oleg Deripaska has hired US banks Citi and JP Morgan together with Russian investment banks Sberbank CIB and VTB Capital to prepare his energy holding EN+ for an IPO this year, two financial market sources told Reuters on February 9.
En+, which operates in the energy and minerals sector, owns 48% of Hong Kong-listed Russian aluminium producer Rusal and the Evrosibenergo energy holding. The group listed on Asian exchanges several years ago. Its last offering for just under 11% it shares raised $2.24bn on the Paris and Hong Kong exchanges.
Reuters’ sources said that the list of the banks that arrange the deal was not final, without providing details.
Russian equity markets are open for business again after gaining over 50% in 2016 and are expected to return at least 15% this year. Sentiment got a further boost following the IPO of Russia’s Detsky Mir toy store on February 8, which raised the equivalent of €333mn in the country’s first big IPO of the year.
Related Articles
Turkish LPG carrier set on fire during Russian drone attack
A Turkish LPG carrier docked at the port of Izmail, Ukraine, was hit by a Russian drone during an attack, sparking a fire on the vessel, which has now been extinguished. According to the Maritime ... more
Russia in talks to buy 1,000t of Niger uranium amid Sahel realignment, fading French influence
Russia is in talks to purchase around 1,000 tonnes of uranium from Niger in a deal valued at approximately $170mn, according to French security assessments cited by Le Monde. The reported ... more
Russia inks Power of Siberia 2 pipeline memorandum with China and Mongolia
Russia has signed a "legally binding memorandum" on the construction of a second gas pipeline to China, Power of Siberia 2, including a transit branch, Soyuz Vostok, that will run across Mongolian ... more