Russia's Norilsk plans London listing in Q2-Q3
MOSCOW, May 29 (Reuters) - Russian metals giant Norilsk Nickel (GMKN.MM: Quote, Profile, Research), the world's top nickel producer, aims to list its shares on the London Stock Exchange (LSE.L: Quote, Profile, Research) this summer, its general director told Reuters on Thursday.
Denis Morozov said the listing would take place at the end of the second or the start of the third quarter of 2008. Norilsk's board approved an additional listing in February.
Norilsk Nickel shares (NKELyq.L: Quote, Profile, Research) (NKELy.F: Quote, Profile, Research) are traded over the counter in London, New York and Berlin in the form of Level 1 American Depositary Receipts.
Around 30 to 40 percent of the firm's shares are freely traded while the rest belongs to United Company RUSAL and metals magnate Vladimir Potanin.
Russian steel tycoon Alisher Usmanov is planning to buy up to 10 percent in Norilsk, its investment vehicle said on Wednesday. For latest stories on Norilsk click on [ID:nL28752841] and [ID:nL29701213]. (Reporting by Polina Devitt; Writing by Maria Kiselyova; Editing by Greg Mahlich)
© Thomson Reuters 2009 All rights reserved
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
