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01/14/08

London Stock Exchange welcomed Eurasian Natural Resources Corporation PLC to the Main Market on 12 December 2007.


Eurasian Natural Resources Corporation PLC is a leading diversified natural resources group with integrated mining, processing, energy, logistical, and marketing operations. It is the world’s largest producer of ferrochrome, based on chrome content, the world’s sixth largest iron ore exporter by volume and world’s fifth largest supplier of traded alumina by volume.
Category: General
Posted by: admin

The government of Kazakhstan is ENRC’s biggest shareholder with a 24.8 per cent stake. Kazakhmys, the Kazakhstan-based, London-listed copper miner, owns 18.8 per cent. The rest is owned by three businessmen who founded the company: Patokh Chodiev, Alijan Ibragimov and Alexander Mashkevitch. The global offer comprised a primary offer of ordinary shares to institutional investors. The global offer was of 277,750,000 new shares, following the exercise of the over-allotment arrangements, and on admission the free float represents circa 22.1% of the issued ordinary share capital. The gross proceeds of the offer were £1.5 billion. Based on the offer price of 540p, the market capitalisation of the Group on admission was approximately £7 billion.

The proceeds from the capital raising will primarily be used to fund the Group's investment programme as well as reducing leverage and funding future acquisition opportunities.

Dr. Johannes Sittard, ENRC’s Chief Executive Officer, said: "We are delighted to have successfully listed our shares in London, especially at this time, and look forward to life as a public company. We are pleased to be able to share our growth not just with our employees and customers, but now with our shareholders too."

Deutsche Bank acted as Sole Global Coordinator, Sole Sponsor and Joint Bookrunner. ABN AMRO Rothschild, Credit Suisse, and Morgan Stanley acted as Joint Bookrunners. Other advisers included M:Communications (PR/IR), PricewaterhouseCoopers (reporting accountants), and the legal advisors were Denton Wilde Sapt, Jones Day, Cleary Gottlieb Steen & Hamilton LLP, De Brauw Blackstone Westbroek, Niederer Kraft & Frey and GRATA.