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2012.05.28 | Russia’s Intergeo picks Morgan Stanley, BMO as IPO organizers Russian mining company Intergeo, which is currently fully owned by business tycoon Mikhail Prokhorov, has chosen Morgan Stanley and BMO Capital Markets as organizers of the company’s planned initial public offering (IPO), which is to take place on the Toronto Stock Exchange (TSX), the company said in a statement Thursday.Originally, Intergeo was planned to make its IPO abroad by the end of 2011. A banking source told reporters that Interros planned to raise funds of around U.S. $100 million-$500 million from the IPO. Grigory Potapov, CEO of Management Company Intergeo told reporters that the company plans to place additional shares at the IPO. The size and price of the placement have not been set yet, and will depend on market conditions, he added. Intergeo, which is controlled by Russian tycoon Mikhail Prokhorov, owns 12 exploration and development licenses with total projected resources and reserves amounting to over 15 million tonnes of copper, 9 million tonnes of nickel, 1 million tonnes of molybdenum, 750 tonnes of platinum group metals, and 90 million tonnes of titanium. PRIME-TASS return |
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