trending Market Intelligence /marketintelligence/en/news-insights/trending/9k9y1wEkVfz45ex53qVwJA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

En+ Group confirms US$1.5B IPO on LSE, Moscow Exchange

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


En+ Group confirms US$1.5B IPO on LSE, Moscow Exchange

United Co. Rusal Plc's 48.1% owner En+ Group Ltd. confirmed that it intends to proceed with an initial public offering of global depositary receipts to raise about US$1.5 billion to partially repay its debt. The admission to LSE is expected to take place in November, followed by an admission to the Moscow Exchange, according to the Oct. 5 release.

En+ Group is a vertically integrated power and aluminum producer with Russia-based core assets. The company produces clean energy and low-carbon aluminum.

Each global depositary receipt, representing 1 common share of the company, will be admitted to trading on the main markets of the LSE and the Moscow Exchange.

"We are pioneering the renewable energy and clean metals model, and a successful IPO would deleverage the group and provide an opportunity to enhance our platform," EN+ CEO Maxim Sokov said in the statement.

Meanwhile, the company has entered into a cornerstone investment agreement with AnAn Group (Singapore) Pte. Ltd., an equity investment and infrastructure services firm.

AnAn has committed US$500 million for the purchase of global depositary receipts, subject to certain conditions.