Aluminum magnate Oleg Deripaska’s En+ Group may sell up to US$2 billion of shares and join gold miner Polyus as the first Russian companies to list in London since 2014, Bloomberg reported, citing people familiar with its plans.
En+, which owns hydro-power plants, coal mines and a 48% stake in aluminum company Rusal, may sell as much as a 25% stake in London and Moscow as soon as May, Bloomberg said.
En+’s total debt, excluding its Rusal holding, was more than US$5 billion at the end of last year, Chief Executive Officer Maxim Sokov told Bloomberg last month.