Petrochemicals giant Sibur may hold IPO in late 2012

Sibur, Russia’s largest petrochemical group, may hold an initial public offering (IPO) in the second half of 2012, a Sibur official said on Tuesday.

The company “is currently considering options for an IPO,” Ilya Rogol, project manager at Sibur Holding, told the seventh Russian IPO congress in Moscow.

“It is the company’s size that matters when you decide on floating the stock. There is no sense to go public with small sales volumes. With our sales volume, however, they say we need to make the placement. We are thinking about that,” Rogol said.

In December 2010, Leonid Mikhelson, head of Russia’s largest independent gas producer Novatek, who increased his stake in Sibur Holding to 50% in March this year, told the media that he had planned the company’s IPO, but it must be preceded by the  large-scale reorganization of the company’s business.

MOSCOW, April 19 (RIA Novosti) 

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