ENRC (Kazakhstan) would offer not less than 20% of shares during IPO in London

/REUTERS, London, November 13, 07/ - Kazakhstan metallurgic group Eurasian Natural Resources Corporation (ENRC) informed on Tuesday that it is planning to conduct the primary offering of shares on London stock exchange. ENRC, the largest ferro-chrome producer in the world and sixth in size exporter of iron ore, had announced that it would offer 20% of shares minimally, but did not infirm how much it plans to gain for them. Funds from IPO would be directed for development of business, including purchase of assets, capital investments and refinancing of debts. Managers of offering are - Deutsche Bank, ABN AMRO Rothschild, Credit Suisse and Morgan Stanley. EBITDA indicator (income before taxes, overestimation and depreciation) of ENRC in year 2006 made $1.26 bn., income - $3.26 bn. Main shareholders of the group are the businessmen - Alexander Mashkevitch, Alidzhan Ibragimov and Patokh Shodiyev. To government of Kazakhstan are belonging 24.8% of shares of ENRC, having united assets of Kazchrome, Aluminum of Kazakhstan, Kazakhstan aluminum plant, Zhayremskiy ONPC, SSMPU, Euroasian energy corporation and also ENRC Logistics и ENRC Marketing & Sales. Copper giant Kazakhmys in October had purchased 18.8% shares of ENRC. [2007-11-13]