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Kazakh metals group makes IPO on LSE
RBC, 07.12.2007, Moscow 13:14:51.Eurasian Natural Resources Corporation PLC (ENRC) has made an IPO on the London Stock Exchange (LSE), the Kazakh metallurgical holding reported today. ENRC placed 252.5m new shares, or 20 percent of the increased share capital, at GBP5.4 (EUR7.5) per share, with the flotation price ranging from GBP4.8 (EUR6.7) to GBP6.0 (EUR8.3) per share. Thus, the total IPO is estimated at GBP1.36bn (EUR1.9bn), and the company's market capitalization at GBP6.8bn (EUR9.5bn). Deutsche Bank acted as the flotation's global coordinator , while ABN AMRO Rothschild, Credit Suisse and Morgan Stanley were the lead managers. Deutsche Bank has been granted an option to buy 25.3m ENRC shares for GBP136.4m (EUR190m), to be exercised by January 10, 2008.
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