Support The Moscow Times!

PhosAgro IPO Possible Soon

PhosAgro, the world's second-largest maker of phosphate fertilizers, may this week start a London initial public offering seeking as much as $1 billion, according to two people with knowledge of the matter.

The Moscow-based company may announce the IPO plan on Monday, according to the people, who declined to be identified because the information is private. The exact amount to be raised will be decided only after talking to potential investors, the people said.

PhosAgro, whose larger competitor is Mosaic, applied to list 21.4 percent of its shares on the London Stock Exchange, according to a company filing in April. The company is controlled by billionaire lawmaker Andrei Guryev and his family, according to an annual report on its web site.

(Bloomberg)

Read more

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

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.