The IPO may become viable provided that the market is favorable, Vladimir Rashevskiy (SUEK, CEO) said to Interfax-Siberia during 7th Krasnoyarsk Economic Forum, without disclosing any details.
As reported earlier, SUEK intends to offer 10 to 15 per cent of its stock at LSE attracting $1 to $1.5 bn. Citibank, Credit Suisse and VTB Kapital have been chosen as global coordinators of the offering while Renaissance Kapital and Bank of America—Merrill Lynch—as book-runners. Three quarters of the offer are supposed to be issued additionally, and one quarter—to be offered by the current beneficiaries of the company.
Before the ongoing recession, some sources reported SUEK might float up to 30 per cent of its stock as GDRs to attract $.5 to $1 bn.