ENRC plans to conduct IPO after improvement of market conjuncture

/INTERFAX, London, October 9, 07/ - Eurasian Natural Resources Corporation Plc (ENRC) would be ready for conduction of initial primary offering (IPO) in London after the financial situation on world market improves. "We are watching the development of market and will accept the final decision as soon as situation becomes less instable", - announced the general director of the company Johannes Sittard in the interview to Bloomberg agency - We are enough ready to do it (conduct the IPO - IF) when the suitable moment comes".. by his words, ENRC was negotiating with banks about borrowing of additional funds and also about possible conduction of IPO. ENRC consolidated the assets of such enterprisers as Kazchrome, Aluminum of Kazakhstan, Kazakhstan electrolysis plant, Zhayremskiy ore mining and processing enterprise, Sokolovsko-Sarbayskoye ore mining and processing production union, Euroasian energy corporation and also ENRC Logistics and ENRC Marketing & Sales. 24.8% of shares of ENRC belong to Kazakhstan government. Control shareholding, by data of Financial Times, belong to three businessmen - Patokh Shodiyev, Alidzhan Ibragimov and Alexander Mashkevitch. As it was informed by masse media earlier, ENRC planned to conduct IPO on London stock exchange in the second half-year. [2007-10-10]