Siberian coking coal and pig iron producer Koks, controlled by lawmaker Boris Zubitsky and his two sons, will seek $600 million in a London initial public offering, said two people involved in the deal.
The Kemerovo-based company will be valued at about $2.5 billion.
The stock will also list on the Russian bourses.
Citigroup, UBS and VTB Capital are managing the stock sale, Koks said in a statement.
The company reported revenue of $890 million in 2009 and earnings before interest, taxes, depreciation and amortization of $153 million.