LONDON, January 13 (RIA Novosti) - Russia's Nitol Solar that makes silicon for the solar industry could be valued at $1 billion during an initial public offering (IPO) planned on the London Stock Exchange, The Financial Times said Sunday.
Nitol Solar plans to offer 25-30% of its total equity to investors in London via the share offering, the paper said.
The paper quoted Dmitry Kotenko, Nitol's chief executive, as saying that the solar industry is one of the most attractive businesses due to strong global demand for electricity produced by solar panels based on high-purity silicon.
According to the paper, Nitol intends to announce its IPO plan on Monday.
