Sibanthracite float struggles

Michael Bow
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RUSSIAN miner Sibanthracite, the latest firm to tap London’s buoyant IPO market, is set to price its shares today despite expectations it will fail to cover its book.

The company, which set a price range of between $7 and $9.50 for its global depository receipt, a type of share, closed orders yesterday and is understood to have covered more than half its book, but is not fully subscribed.

Roadshows have been ongoing this week with final pricing expected today.