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Russia's Raspadskaya coal producer to hold IPO at $2-2.5 per share

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Russian coal producer Raspadskaya will hold an initial public offering on the RTS and MICEX at $2-2.5 per ordinary share, the company said Monday.
MOSCOW, October 30 (RIA Novosti) - Russian coal producer Raspadskaya will hold an initial public offering on the RTS and MICEX at $2-2.5 per ordinary share, the company said Monday.

The Raspadskaya mine, in West Siberia's Kuzbass coal basin, is the country's second-largest producer of coking coal.

"This will be the company's first IPO in Russia," Raspadskaya said in a statement.

The company will offer 18% of its authorized capital, or 140,757,885 ordinary shares, during the initial public offering, after which its stock will be traded on the exchange.

The company will offer common shares owned by its core shareholder, Corber Enterprises Limited, to Russian investors and to institutional investors outside the United States, the company earlier said.

Raspadskaya has appointed Credit Suisse and Deutsche UFG as the global coordinators of the company's IPO, while Credit Suisse, Deutsche UFG and Morgan Stanley will be joint bookrunners.

"The initial public offering will help us determine the market value of our business, and also receive international recognition for our company as the best in the sector. This is particularly important in light of our strategic plans to expand our presence on the market, while ensuring stable production growth," Gennady Kozovoi, the company's general director, said earlier.

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