Deripaska’s En+ hires advisors for IPO

By bne IntelliNews February 9, 2017

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Ukraine's DTEK seeks $350mn to restore energy capacity after Russian attacks

Ukraine's leading private energy company, DTEK, has sounded the alarm, indicating an urgent need for $350mn to recuperate lost capacity resulting from Russia's relentless assaults on thermal power ... more

France's spending on Russian LNG surges to over €600mn this year

France's spending on Russian liquefied natural gas (LNG) surged to over €600mn this year, EU data reveals, Politico reports. The increase comes as French President Emmanuel Macron becomes ... more

What next for oil markets after Iranian strike on Israel?

WHAT: Oil prices have fallen following Iran's strike against military facilities in Israel. WHY: The risk of escalation was largely priced in last week in anticipation of the strike, and Israel ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    4 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. Saudi Arabia to scale back plans for Neom city
    14 days ago

Reports

Dismiss