Intergeo, which manages the mining projects of Russia's Onexim Group private equity fund, may hold an initial public offering this fall, Onexim President and owner Mikhail Prokhorov said on Monday, without disclosing details of the offering.
"(The IPO) could be held in October-November 2011," Prokhorov said.
Western media have reported that Intergeo expects to raise from $100 million to $500 million in an initial public offering on the Toronto Stock Exchange by the end of the year.
Intergeo owns the rich Iysko-Tagulskaya area in the Irkutsk Region in Eastern Siberia with reserves of 7.5 million tons of nickel, 3.5 million tons of copper and 750 tons of platinum group metals. Intergeo owns other 10 deposits and exploration areas in Russia. It has said it will invest 1.6 billion rubles in geological exploration before 2013.
KALUGA, Russia, May 16 (RIA Novosti)
