Report: SUEK retains IPO plans with no specific timing

MOSCOW, Nov 8 (PRIME) -- Siberian Coal Energy Company (SUEK) plans to hold an initial public offering (IPO), but has no specific timing, Chairman of the board of directors Alexander Landia said in an interview with Reuters news agency late on Wednesday.

“That’s our plan, be prepared. Because the market is quite volatile... If there will be an attractive opportunity, we will be seriously looking at that,” he said and added that the company is interested in both public debt and public equity markets.

Landia also said that SUEK plans to invest around U.S. $3 billion in development of infrastructure in the next four to five years to boost coal production 18% to 20 million tonnes.

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