Speaking of going on London's ExchangeGot this off another bull board...
Russia'sSeverstal plans $5bn Nord Gold Londonlisting
Severstal, the Russian steel company, has announced plans for a $5bn(£3.14bn) listing of its gold unit, Nord Gold, on the LondonStock Exchange.
By Richard Orange, in Kazakhstan 4:58PM GMT 17 Jan 2011
The flotation will be the highest value initial public offering yet for agold company, and the first of several gold miners seeking to come to Londonthis year.
The company aims to raise more than $1bn by floating a stake of at least25pc in a premium listing on London'smain market. About $250m will go to pay off loans from existing shareholders,$300m will be invested in projects to increase production, and the remaining$450m-$500m will go back to Severstal as profit on its investment.
"From Russian origins we have grown into an internationally-diversifiedgold miner," said Nikolai Zelenski, Nord Gold's chief executive.
"We have had interactions with investors, and we believe that we offera very attractive value proposition: we offer exposure to the gold market, weoffer a company that's fully unhedged, and we offer a company that has veryhigh rates of growth."
In just three years, Mr Zelenski, a former consultant with McKinsey, hasbuilt Nord Gold into a company with annual revenues of more than $500m,focusing on buying and turning around distressed mines in Russia, Kazakhstanand West Africa.
The URL is here:
https://www.telegraph.co.uk/finance/newsbysector/industry/mining/8264699/Russias-Severstal-plans-5bn-Nord-Gold-London-listing.html