Kazakhstan – Kazakhmys, the world’s tenth-largest copper producer, should raise as much as $1.4 billion when it floats between 26% and 30% of its stock in London later this year. The company boasts an impressive ebitda margin of 60% and a net margin of 34%. It mines about 90% of Kazakhstan’s copper output. Copper prices have gone through the roof in the past 12 months and demand for the shares reflects this. The share price range had been set at $8.10 to $9.60. Credit Suisse First Boston and JPMorgan Cazenove are joint global coordinators and bookrunners.
November 01, 2005