Russia miners to add weight to bluechips December 4, 2011 RUSSIA’s presence on the UK’s top share index will go up this Wednesday if two of its newly London-listed metals and mining groups are admitted in the quarterly changeover of its constituents. Evraz, the steelmaking group part-owned by Chelsea owner Roman Abramovitch, and Polymetal, Russia’s biggest silver producer, have each swapped their global depositary receipt [...]
Miner plans London listing in New Year November 27, 2011 A MONGOLIAN coal miner is considering a multi-billion flotation in London in a deal that will please investment bankers who have been largely starved of new issues in London’s faltering IPO market. According to banking sources, Goldman Sachs and Deutsche Bank, are working on the potential listing of the state-owned Tavan Tolgol, with hopes that [...]
Kazakh miner eyes LSE float November 21, 2011 CITY fans of ex-Soviet Union mining companies will soon have another stock to pick after Kazakh energy producer Zhaikmunai said it was eyeing a move to the main market of the London Stock Exchange yesterday. Zhaikmunai currently trades via global depository receipts (GDRs) on the LSE but indicated it may swap these for a full [...]
Evraz warns on the cost of world turmoil November 15, 2011 ROMAN Abramovich’s steelmaking group Evraz surprised markets with a cautious update yesterday that said pressure on prices would lower profits in the last months of the year. Evraz said revenues hit $12.5bn (£7.8bn) in the first nine months of the year, up 28.9 per cent from the same period in 2010, including $4.2bn of sales [...]
Two more Russians to enter FTSE November 8, 2011 TWO Russian miners are set to join the FTSE 100 next month, reigniting concerns over corporate governance and the composition of the index. Roman Abramovich’s steelmaking group Evraz and gold miner Polymetal will both join the index if the FTSE Group agrees at its next meeting. Evraz, with a £4.7bn market cap, and Polymetal, at [...]
Polymetal to raise £518m in London IPO October 24, 2011 RUSSIAN gold and silver miner Polymetal loosened the conditions on its share swap plan yesterday to push through its bid to raise more than £500m on the London Stock Exchange. Polymetal, the world’s third-largest silver producer and currently part-controlled by tycoon Alexander Mamut (pictured), said it would price its flotation at between 910p and 1,035p [...]
The Russians are coming: Roll out the red carpets October 24, 2011 BACK in the mid-1960s, I wasted a wet afternoon watching a truly silly film. The plot was a melange of bluster, misunderstanding, clashing cultures and xenophobia. The title was The Russians Are Coming, the Russians Are Coming. Readers with an interest in the City’s health will recognise a plot that is in danger of repeating [...]
Russia’s Evraz to list on LSE October 17, 2011 EVRAZ, the Russian metals and mining group backed by billionaire oligarch Roman Abramovich, is moving its domicile to the UK and listing in London as it seeks greater international acceptance and access to capital. Evraz, which mines coal, iron ore and valladium and makes steel industrial goods, yesterday said it wanted to list on the [...]
Russia’s largest shipping company mulls City listing August 21, 2011 RUSSIA’s state-owned shipping company Sovcomflot could make an initial public offering on the London Stock exchange by the end of the year, as the Russian government looks to push ahead with its ambitious privatisation plans. Sovcomflot, which is sending test cargoes along a new Arctic route to service Russia’s offshore oil fields, is at the [...]
Evraz Group gives trading update May 17, 2011 Russian steel company Evraz Group yesterday said revenue for the first-quarter ended 31 March 2011 was $3.89bn (£2.4bn), and its adjusted earnings before tax for the quarter were $740m. Moving ahead, the company expects the second-quarter earnings before tax to be in the range of $750m-$825m.