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.

Related Articles

Romania’s Transgaz reportedly renews bid for Greece’s DESFA

Romanian gas transport company Transgaz has teamed up with Spain’s Regasificadora del Noroeste in an attempt to take over its Greek peer DESFA, where the Greek state has put a 66% stake up for ... more

Poland’s PKN Orlen launches offer to delist Czechia’s Unipetrol

Poland’s state-controlled oil and gas company PKN Orlen has launched an offer to take over Czech refiner Unipetrol, the Polish company said on December 13. PKN Orlen said it will go through with ... more

Turkmenistan to take Iran to arbitration over $1.8bn gas supply claims

Turkmenistan announced plans on December 5 to take a dispute with Iran over $1.8bn Tehran supposedly owes for Turkmen natural gas deliveries to international arbitration. Tehran says the figure is ... more