Russia’s En+ Group to hold IPO in London, Moscow

MOSCOW, Oct 5 (PRIME) -- Russian billionaire Oleg Deripaska’s En+ Group plans to hold an initial public offering (IPO) in London and Moscow, the company said in a statement on Thursday.

The company expects to attract U.S. $1 billion, while the entire amount of the deal can reach $1.5 billion, including a sale of a $500 million stake to key investor, Singapore’s AnAn Group, partner of China’s CEFC.

“En+ Group… is announcing today its decision to hold an IPO of its global depositary receipts (GDR), with each GDR representing one common share of the company, must be admitted to trade on the main securities market trade on the London Stock Exchange and Moscow Exchange,” the company said.

Citigroup, Credit Suisse, J.P. Morgan, Merrill Lynch, SIB (Cyprus), VTB Capital, BMO Capital Markets, Gazprombank, Societe Generale and UBS will act as the organizers.

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