Monday, June 19, 2006

Uralkali to IPO

Uralkali, one the biggest potassium salt producers in the world, will go forward with a 10 percent flotation which will net the company over USD350 million.

Last Friday, the board of Directors has decided to call for an EGM in order to vote on the underwriting agreement. The underwriter is still unknown to the public.

The company’ owner, Dmitry Rybolovlev, is the latest Russian billionaire to take his company public. Mr. Rybolovlev is considered to be one of the most opaque businessmen in Russia. 30th in the Forbes list of Russian billionaires, he now resides in Switzerland. In 1996 he was accused of murdering his business rival, but after spending only 11 months in prison he was released on bail and subsequently cleared by the courts.


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