PhosAgro, the world’s second-largest maker of phosphate fertilizers, hired six banks for its planned initial public offering in London, according to two people with knowledge of the matter.
The Moscow-based company chose Citigroup, Renaissance Capital,, , Bank of Montreal and Credit Suisse Group to manage the sale, which may happen as early as June, said the people, who declined to be identified because the information is confidential.
PhosAgro is pressing ahead with its IPO in London even after at least four Russian companies postponed stock sales in the city this year. Russian Helicopters and three others delayed plans to raise a total of about $3 billion, citing market volatility.
PhosAgro, whose larger competitor is Mosaic Company, applied to list 21.4 percent of its shares on the London Stock Exchange, according to a company filing last month.
Timur Belov, a spokesman for PhosAgro, declined to comment Friday.