Russian pig iron and coking coal group Koks Group, an affiliate of Industrial Metallurgical Holding (IMH), intends to launch an initial public offering (IPO) of its ordinary shares in London.
The proceeds received under the IPO are to be used by Koks for the implementation of its investment program and for general corporate purposes. Accordingly, the planned IPO would allow the company to improve the security of production with its own raw materials, to strengthen its vertically integrated production chain, and to continue to improve operational efficiency to achieve further growth.
Citi, UBS Investment Bank and VTB Capital were the joint bookrunners for Koks' offering.
Koks Group is a vertically-integrated business focused on pig iron and coke production and the extraction and processing of coking coal and iron ore. Koks' three operational divisions include the coal and coke division, the iron ore and pig iron division and the powder metallurgy division. The group's key production facilities are located in Russia's Kemerovo and Tula regions. Koks exports 80-90 percent of all of its sales of pig iron.