news ) index, after it improved corporate governance, The Independent on Sunday said.
A floatation was expected to go ahead in June and could value the company at close to $5 billion, enabling it to qualify for entry into the blue-chip index, the newspaper said.
The group — the Siberian Coal Energy Company in full — had planned to trade only global depository receipts, the newspaper said, which would have allowed it to register in a more tax friendly jurisdiction and also escape the FTSE index’s stringent corporate government standards.
However, the group believed it had improved its structure over the last year, the newspaper said, and it quoted a mining sector source saying SUEK wanted a premium listing.
A report in Kommersant in March said the group could sell 10 to 1…