Alrosa readies flotation plan

 
Suzie Neuwirth
MARK

MARKETING for Russian diamond producer Alrosa’s upcoming flotation began yesterday, City A.M. understands.

Alrosa confirmed on Wednesday that the Russian government is looking to sell a 14 per cent stake in the firm, which is the world’s largest diamond miner based on volume. The shares will be traded in Moscow.

Alrosa is targeting a valuation of over $10bn (£6.2bn) for the whole company, according to sources.

Goldman Sachs, JP Morgan, Morgan Stanley and VTB Capital are joint bookrunners for the deal.