MOSCOW, Feb 17 (Reuters) - Russian iron and steel firm Metalloinvest plans an initial public offering (IPO) of 10-20 percent of its shares within 1-1.5 years, the owner of half of the company tycoon Alisher Usmanov said on Wednesday.
'We have to be ready at any moment,' Usmanov told reporters. '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.'
He said that Deutsche Bank, Goldman Sachs and Russian VTB and Renaissance Capital were advising Metalloinvest on the possible placement.
(Reporting by Maria Kiseleva. Additional reporting by John Bowker, writing by Aleksandras Budrys) Keywords: METALLOINVEST/RUSSIA (aleksandras.budrys@reuters.com; +7 495 775 1242; Reuters Messaging: aleksandras.budrys.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We have to be ready at any moment,' Usmanov told reporters. '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.'
He said that Deutsche Bank, Goldman Sachs and Russian VTB and Renaissance Capital were advising Metalloinvest on the possible placement.
(Reporting by Maria Kiseleva. Additional reporting by John Bowker, writing by Aleksandras Budrys) Keywords: METALLOINVEST/RUSSIA (aleksandras.budrys@reuters.com; +7 495 775 1242; Reuters Messaging: aleksandras.budrys.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.