Russian fertilizer producer Acron plans IPO

13 November 2007 15:49  [Source: ICIS news]

LONDON (ICIS news)--Russian mineral fertilizer producer Acron is planning an initial public offering (IPO) in the second half of 2008, the company’s vice president said on Tuesday.


Local media reported that vice president Alexander Popov said Acron was planning to offer up to 20% of its shares in an IPO next year during a presentation at the Moscow Interbank Currency Exchange (MICEX).


The shares would be placed on the London Stock Exchange (LSE), Popov added.


A decision had not yet been made whether Acron’s management would have to issue additional shares for the IPO or place part of its share capital.


Acron and ammonia producer Dorogobuzh were set to be converted into a single share as part of the Acron holding, Popov added.


Acron is one of the largest mineral fertilizer producers in the world, with annual output exceeding 4 million tonnes and a range of over 40 chemical products. Acron incorporates three agrochemical companies, JSC Acron, JSC Dorogobuzh and JSC Hongri Acron.

By: Rebecca Clarke
+44 20 8652 3214

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