MOSCOW Aug 2 Russia's largest steam coal
producer SUEK is not planning an IPO for at least a year,
joining a throng of companies who have scrapped or postponed
listing plans in the face of market turbulence.
"We're not planning (an IPO) right now," SUEK's CEO Vladimir
Rashevsky told Interfax news agency, adding that
there would be no share offering for at least a year.
SUEK announced in June it had obtained regulatory approval
to list up to 25 percent of its shares abroad. [ID:nLDE6592EU]
Citigroup (C.N), Credit Suisse CSGN.VX, VTB (VTBR.MM),
Renaissance Capital and Bank of America Merrill Lynch (BAC.N)
had been picked to arrange the offering. [ID:nLDE60K2A4].
The company said it could also place up to $500 million in
Eurobonds before the IPO [ID:nLDE60H1GZ] but last month bankers
said SUEK was seeking a $700 million loan. [ID:nLDE66F0QX]
SUEK is a major shareholder in a number of Siberian and Far
Eastern power companies with total generating capacity of 13
-- For an ANALYSIS on Russian IPOs, see [ID:nLDE66S1DZ]
(Writing by Nastassia Astrasheuskaya; editing by David
(firstname.lastname@example.org; +7 495 775 12