Russia's largest private energy company EuroSibEnergo plans to hold an Initial Public Offering (IPO) on the Hong Kong stock exchange to raise $1.5 billion, a source close to the placement told RIA Novosti on Thursday.
"The company intends to sell 25 percent of its shares. Next week the IPO lead managing banks will already start meetings with investors, but without the company's representatives," the source said, adding the company planned to increase its value to $6 billion after the IPO.
EuroSibEnergo refused to comment.
MOSCOW, November 11 (RIA Novosti)