Belarus to hold IPOs for potash miner Belaruskali, tuck maker Belaz
MINSK. June 30 (Interfax) - Belarus will hold an initial public offering (IPO) for potash miner Belaruskali, First Deputy Prime Minister Vladimir Semashko told reporters.
"Three weeks ago I gave instructions to the Belneftechim concern and to the director of Belaruskali to prepare the enterprises for a placement on a stock exchange," Semashko said.
He said Belarus was prepared to place 10%-15% of the shares in Belaruskali, which is wholly state-owned at present, on the foreign markets.
"We value Belaruskali at no less than $30 billion and that price will grow by the month," he said.
Semashko also said the Belaruskali IPO would take place after an IPO by Belaz, which had been chosen for a debut IPO this year.
Deutsche Bank is helping to prepare heavy truck maker Belaz for its IPO. "Belaz in conjunction with Deutsche Bank are working on a share offering on foreign exchanges," Semashko said in the Belarusian parliament.
Semashko said he thought this method of raising foreign investment was important and that Belarus continued to prepare its companies for public share listings abroad.
