Looking abroad
Russia's biggest steel company is planning to float itself in the West
IT IS a murky world, that of Russian steel, but light is coming in. This began last October when Mechel, number five in the Russian industry, raised $335m by selling 11.5% of its shares through an initial public offering (IPO) on Wall Street. Now Evraz, Russia's biggest steel firm, headed by Alexander Abramov, a sometime scientist, is heading for London. It plans an IPO there to raise $395m-495m for 8.3% of its equity.
This article appeared in the Business section of the print edition under the headline “Looking abroad”
From the May 28th 2005 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
Could seaweed replace plastic packaging?
Companies are experimenting with new ways to reduce plastic waste
Has Sequoia Capital outgrown its business model?
Venture capital’s hardiest perennial gets back to its roots
On stupid rules and quick wins
Why every boss can benefit from asking employees what most infuriates them
TikTok wants Western consumers to shop like the Chinese
It still has some convincing to do
Will the trouble ever end for Volkswagen and its rivals?
From strikes to Trump tariffs, calamities abound
After Northvolt’s failure, who will make Europe’s EV batteries?
The continent looks ever more reliant on Asian producers