01 June 2004 05:51
Kazakh copper company plans IPO in 8-10 months (Part 2)
Kazakhmys plans to place at least 25% of shares, he said.
An additional share issue is likely to be made totaling 10% to
12.5% of charter capital. The rest of the shares will be offered by
MOSCOW. June 1 (Interfax) - Kazakhmys Corporation, Kazakhstan's biggest copper producer, plans to carry out an
IPO in London in eight to ten months, the company's president, Vladimir Kim, said at Moscow's second
metallurgical summit.
Citigroup and HSBC will probably handle the IPO.
Samsung owns 27% of Kazakhmys.
Talking about the Udokan copper deposit, Kim said the Udokan
Kazakhmys shareholders, Kim said.
project will cost about $600 million, including about $350 million on a benefication plant to process about 23
million tonnes of ore per year. However, "our interest in Udokan has dropped considerably from last year," he
said, adding that the company has sufficient copper reserves.
Kazakhmys specializes in the production of refined copper and copper ore. It comprises Zhezkasgansk Copper Smelter
Plant (former Zhezkazgantsvetmet), Balkhash Metallurgical Plant (BGMK), Zhezkent GOK, East-Kazakhstan Copper-Chemical
plant and others. [KZ ASIA EUROPE EEU EMRG IPO MRG STX GB WEU MET STL] me
[Interfax] |
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