MOSCOW (MRC) -- Russian petrochemical producer SIBUR has begun talks with banks about a possible initial public offering, CNBC cited Sibur's CEO Dmitry Konov as saying on Tuesday, reported Reuters.
SIBUR could list shares on the Moscow Exchange and later consider other international bourses, Konov was quoted as saying.
The CEO said Sibur could list 15 percent of its shares, but declined to give a timeframe, saying it would depend on market conditions, CNBC reported.
As MRC wrote before, in June 2018, SIBUR said its plans to build a gas chemical complex in Russia's Far East will require preliminary investments of up to USD8 billion and it is still looking for Asian partners. SIBUR said a year ago that it had been in talks with a number of Chinese investors about participating in the project to build the complex in Amur.
SIBUR is a uniquely positioned vertically integrated gas processing and petrochemicals company. We own and operate Russia’s largest gas processing business in terms of associated petroleum gas processing volumes and are a leader in the Russian petrochemicals industry. As of 31 March 2014, SIBUR operated 27 production sites located all over Russia, had over 1,400 large customers engaged in the energy, chemical, fast moving consumer goods (FMCG), automotive, construction and other industries in approximately 70 countries worldwide and employed over 27,000 personnel.
MRC