PRE 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.