Banks orient the investors on the ENCR's price within about 530-570 pennies per share

/REUTERS, Moscow, Ольга Попова, December 6, 07/ - Banks orient the investors on floatation of shares of Kazakhstani ENCR during the initial public offering (IPO) within 530-570 pennies per share, that is in the upper part of earlier determined corridor of 480-600 pennies, a source from the financial market told to Reuters. The book closes today at 3:00 p.m. GMT or 6:00 p.m. MSC, that is by hour and a half earlier that it was planned. The price range that was determined earlier has presupposed raising 1.2-1.5 bn. pounds ($2.5-3.1 bn.) during IPO in London and the company's capitalization up to 7.5 bn. pounds, ENRC informed. ENRC that is one of the world's biggest producers of ferrochromium and the sixth by amount exporter of iron ore will offer 252.5 million shares of new shares to the investors or increase of the company's capital by 20percent. Offering's managers are Deutsche Bank, ABN AMRO Rothschild, Credit. The main shareholders of the group are businessmen Aleksandr Mashkevich, Alidjan Ibragimov and Patoh Shodiev. The Government of Kazakhstan and copper giant Kazakhmys own minority share holdings. [2007-12-06]