Russia’s Koks prices its IPO


first_img Tags: NULL Monday 24 January 2011 8:19 pm Russia’s Koks prices its IPO RUSSIAN coking coal and pig iron producer Koks will seek to raise around $520m (£325m) in its IPO, landing a windfall for its owners and kick-starting a stampede by Russian firms to the stock market.The Siberia-based company, which is planning to list existing shares in both London and Moscow, said the offering could make up at least 20 per cent of its stock and would be priced at $6.25-$8.00 a share, valuing the company at $2.6bn.Koks is one of four Russian firms expected to begin bookbuilding in London this week in a bumper start to the year for Russian company IPOs that could raise a combined $3bn — over half the total raised in the whole of 2010.Russia’s biggest sugar producer Rusagro is also reviving plans for an IPO after market volatility caused it to postpone its last attempt in May 2010.Rusagro’s IPO could also take place in London — further evidence the British capital has emerged as the favourite destination for Russian private companies.Analysts have said Russian companies could raise around $30bn in 2011 given the right market conditions, up from $5.5bn in 2010.Koks is owned by resources tycoon Boris Zubitskiy and his two sons, who the company said would keep all the proceeds from the sale of their shares in the IPO.The group said around 12.1 per cent of the overall shares would be sold by the Zubitskiys — netting the family a windfall of over $300m based on the expected income.Koks will also sell treasury shares — the cash raised from which will be invested in the company. KCS-content whatsappcenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco RelishZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNews SharperGrab A Tissue Before You See Richard Simmons At 72News SharperDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMoneyPailBurning Money: Common Cars Rapidly DepreciatingMoneyPail Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Show Comments ▼last_img

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