The Russian iron ore and steel producing company Metalloinvest Holding (Metalloinvest) is considering an initial public offering (IPO) of 10-20 percent of its shares in a year to 18 months, Reuters has reported, citing Metalloinvest's co-owner Alisher Usmanov.
"We have to be ready at any moment. We have to be ready for London and Hong Kong. We will have an IPO if prices of non-ferrous metals and steel are rising," Alisher Usmanov said.
At the end of January, sources from the financial market stated that Metalloinvest had resumed talks with banks over a possible IPO this year. One source said at the time that the company could raise $1-2 billion, but this was a general range as the company's potential market capitalization remained unclear.
Metalloinvest first planned an IPO in 2008 but had to cancel its plans due to the financial crisis and waning investor enthusiasm.