SUAL IPO MAY TAKE PLACE IN Q4, 2004
"The likelihood is that the IPO will be in the last few months of
the year," Alexei Prokhorov, PR manager at the SUAL Holding, told
MOSCOW. Jan 28 (Interfax) - An IPO by SUAL group, Russia's second biggest aluminum producer, may take place in
the fourth quarter of 2004.
Interfax.
The company is considering a strategic alternative to an IPO, "but
much will depend on the state of the market and it is too soon to talk
Prokhorov also said that the formation of SUAL International, a new metals and coal company with SUAL as its core,
and preparations for this company to debut on the international financial markets were proceeding "on
schedule."
Viktor Vekselberg, chairman of SUAL-Holding's board of directors, has said SUAL International would be set up
during the second quarter of 2004 and that the timing of the IPO would be known during the first quarter.
about one scenario or the other in detail," Prokhorov said.
SUAL has said the new company would consist of the aluminum producer's prime assets and be traded on the
international capital markets. It might float up to a quarter of its stock on the open market.
In December 2002 the SUAL group, Access Industries and Britain's Fleming Family & Partners (FF&P) agreed
to form a new international industrial company loosely named SUAL International that will include the aluminum, nickel,
tantalum and coal assets of these companies.
Fleming Family & Partners currently owns about 5% of SUAL International, but its interest might be raised to
23%.
SUAL, one of the world's top ten aluminum producers, mines about 90% of Russia's bauxites and produces 60%
of its alumina and 25% of its primary aluminum.
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