Petropavlovsk iron ore unit aims to raise $600 mln in HK IPO

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.

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