Nornickel Is Said to Invite Bank Pitches for Copper-Mine IPO
- Company says it will give an update on the IPO by end of 2019
- Nornickel started mine in 2017 after $1.5 billion investment
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MMC Norilsk Nickel PJSC is soliciting pitches from banks to participate in an initial public offering of its Russian copper mine, according to people familiar with the matter.
The miner has invited proposals from Russian and international banks, said the people, who asked not to be identified discussing private information. The size of the IPO stake and other details have yet to be decided.