Global Capital Markets

Citigroup has been mandated to organize the IPO of the largest Russian steel producer Severstal, reported Vedomosti, citing vice-president of Citibank Natalia Nikolayeva. He refused, however, to name other organizers of the IPO, as well as the timing and parameters of the listing. Earlier reports noted that Alexei Mordashov-owned Severstal is expecting to gain USD 1.5bn from listing of about 10% stake on LSE, this autumn.

Source Vedomosti
Value USD 1,500m (Severstal expected listing proceedings)