Report: Deripaska’s En+ Group sees $2 bln IPO not before Sep

MOSCOW, Jun 15 (PRIME) -- Russian billionaire businessman Oleg Deripaska’s En+ Group plans to a U.S. $2 billion initial public offering (IPO) in London and Moscow no earlier than in September, Bloomberg reported Thursday citing sources familiar with the situation.

The company, which earlier planned an IPO in June, seeks to receive a more attractive valuation and additional time to prepare the deal, sources said.

En+ declined to comment.

In April, the Financial Times reported citing sources that En+ Group hired Citibank, JP Morgan, Credit Suisse, Societe Generale, Sberbank and VTB Capital to organize an IPO on the London Stock Exchange (LSE) and plans to raise $1.8–2 billion.

En+ Group holds 48.13% in aluminum giant UC RUSAL and owns power utility EuroSibEnergo, among other assets.

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