SUEK set to join FTSE 100 in June IPO 

RUSSIAN coal giant SUEK is likely to join the FTSE 100 when it floats in a London IPO in June. The group’s intention to tap investors for around $1bn (£623m) this summer was first revealed in City A.M. last Thursday. With a valuation of between $5bn and $10bn, the group – the Siberian Coal Energy Company in full – is likely to become a constituent of the blue-chip FTSE 100 index. It has been tightening up its corporate governance procedures to comply with London’s strict listing rules.