Support The Moscow Times!

SBU-Coal Studies IPO

SBU-Coal, the third-largest miner of the power-station fuel in Russia, is in talks with bankers over a possible initial public offering.

SBU-Coal, also known as SDS, estimates its fair value at more than $4 billion, chairman Lev Rybak said this week, adding that talks with investment banks are preliminary. SBU-Coal plans to invest $2 billion to double output to 50 million tons in five years using its own funds, loans and project financing, he said.

SBU-Coal is technically ready for an IPO assuming that shareholders agree, Rybak said.

The offer would follow more than $500 million of spending by the producer in the past half year to buy coal assets in the Kemerovo region, including the Listvyazhnaya mine, sold by Magnitogorsk Iron & Steel.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.