Petropavlovsk iron ore unit aims to raise $600 mln in HK IPO
Investing News Network - September 10th, 2010
Russian miner Petropavlovsk Plc (LON:POG) reported that it planned to raise about $500 million to $600 million in a Hong Kong initial public offering by spinning off its non-precious metals division, including its iron ore operations, in October.
Russian miner Petropavlovsk Plc (LON:POG) reported that it planned to raise about $500 million to $600 million in a Hong Kong initial public offering by spinning off its non-precious metals division, including its iron ore operations, in October.
The press release is quoted as saying:
Petropavlovsk received approval from Hong Kong Stock Exchange for listing its iron ore unit on Thursday, the sources said, adding that the company will kick off its IPO pre-marketing on Sept 13.