UK listing for Severstal gold mining group

first_imgMonday 17 January 2011 9:05 pm Show Comments ▼ KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads Share whatsapp whatsappcenter_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at UK listing for Severstal gold mining group Tags: NULL RUSSIAN steel company Severstal yesterday announced plans to float its Nord Gold unit in London to raise more than $1bn (£629m). It values the company at over $4bn. The premium listing of at least 25 per cent of the gold miner is set to be the biggest mining float since Nate Rothschild’s $1bn offering of investment shell Vallar last year.Several reports said Severstal’s subsidiary would start trading in mid-February, but would not join the FTSE index due to its base in the Netherlands. The announcement makes it the fourth Russian company to announce plans to launch in London in the past week, following in the footsteps of steel pipe maker ChelPipe, pump manufacturer HMS Hydraulic and coking coal producer KOKS.Analysts have said Russian private issuers could raise up to $30bn this year in favourable market conditions. After two barren years, new share issues rebounded in 2010 with companies raising around $5.5bn.Nord Gold focuses on gold mines in emerging markets including Kazakhstan, Russia and West Africa.It hopes to produce 1m ounces of gold by 2013 through existing mines and acquisitions, up from 589,000 ounces in 2010. Philip Baum, Nord Gold’s chairman and veteran of Anglo American, said: “We will strive to ensure that investors benefit from attractive earnings growth whilst protected by the highest standards of corporate governance, consistent with a UK premium listed company.”Severstal’s shares rose 3.9 per cent to $19.79 in Moscow trading yesterday. “Nord Gold accounts for much of Severstal’s $19bn capitalisation, and the unit’s IPO will keep positively affecting Severstal’s stock the closer it gets to the day of the public offering,” said Maxim Semenovykh, metals analyst at Alfa-Bank.News of Severstal’s plans comes after the flotation of African Barrick Gold (ABG) in 2010 by its parent Barrick Gold, the world’s largest gold miner.ABG raised over £500m from selling off a quarter of the company. Several other mining companies are in the process of coming to market. Privately held commodity trader Glencore, itself said to be preparing to float later this year in either London or Hong Kong, plans to spin off or list its Kazzinc gold unit in 2011.GERGELY VOROSMORGAN STANLEYMORGAN Stanley is sole sponsor of the Nord Gold float, with Credit Suisse, Russian bank Troika Dialog and Morgan Stanley acting as joint bookrunners. Cannacord Genuity is acting as co-manager. Morgan Stanley’s co-head of investment banking in Russia, Gergely Voros, and executive director Vladimir Samarin head the team.Voros has been with Morgan Stanley’s London office since 1998, taking up his new role in April 2010. Before MS, he worked in Munich as a consultant for Boston Consulting Group and gained an MBA from Harvard Business School. Voros has been involved in numerous capital raisings including the partial float of Russia’s state-owned Rosneft (currently in the headlines for its work with BP), Vimetco and ENRC. Samarin worked for Bank of America, McDonald Investments and the Barrington Consulting Group before joining Morgan Stanley. At Credit Suisse, Nicholas Koemtzopoulos, Laurent Charbonnier and Chris Byrne lead the team. Charbonnier joined the bank in 2008 from UBS, and is a director on the metals and mining team.Koemtzopoulos is responsible for equity capital markets in Russia and central and eastern Europe. last_img

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