Russia coal miner Belon plans London IPO - paper

MOSCOW May 29 (Reuters) - Russian coal miner Belon Group (BLNG.MM) is planning to float at least 15 percent of its shares on the London Stock Exchange in the second half of 2009, a business daily reported on Friday.

Vedomosti newspaper quoted Belon's general director and co-owner Andrei Dobrov and board member Vasily Bastrygin as saying Belon had yet to decide on the exact size of the share offer which could comprise only additionally issued shares.

The company could raise more than $300 million through the offering, Vedomosti quoted industry analysts as saying, based on the assumed price range of $180-220 per share.

On Thursday, Belon's stock closed at 4,225 roubles ($179.2).

Belon, based in Siberia's largest city, Novosibirsk, is 41.3 percent-owned by Magnitogorsk Iron and Steel Works (MAGN.MM) (MAGNq.L), Russia's third-largest steel maker.

In March, Dobrov said Belon planned to list up to 20 percent of its shares on a European bourse in November 2009. (Reporting by Maria Kiselyova; Editing by Paul Bolding)