Report: RussiaТs Sibur close to making decision on IPO
MOSCOW, Aug 27 (PRIME) -- Russian petrochemical company Sibur will decide on an initial public offering (IPO) at the end of September, the Financial Times reported on Monday, citing sources with knowledge of the situation.
The company is in negotiations to offer a 10Ц15% stake, most of which belongs to Leonid Mikhelson, to raise U.S. $2Ц2.5 billion, two sources said, adding that the company could be valued at $20 billion.
УIt may happen this year. The proposal is being internally studied in the next few weeks. And then they will decide what to do,Ф one of the sources said.
According to three market sources, JP Morgan, Citi, Goldman Sachs and Gazprombank can organize the offering.
Mikhelson owns a 48.5% stake in the company, including 14.4% in trust management of Gazprombank and 34.08% owned by MikhelsonТs Trust. Gennady Timchenko holds 17% in Sibur, the executives about 14.5%, ChinaТs Sinopec 10% and the Silk Raod Fund 10%.