MOSCOW, August 9 (RIA Novosti) - Uralkaly [RTS: URKAG], Russia's biggest producer of potassium fertilizers, approved Wednesday an agreement on underwriting an initial public offering with a group of Western banks.
Uralkaly, which exports about 90% of its products and is the world's fourth largest producer of potash, is set to float 616,073,100 ordinary shares or 29% of its charter capital with a face value of 0.5 rubles each during an initial public offering on the London Stock Exchange and Russian bourses. The IPO will be managed by Credit Suisse Securities (Europe) and UBS.
Uralkaly mainly exports to Brazil, India, China and Malaysia.
