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Belaruskali IPO Unnecessary as Co. Readies New Deposit: Snopkov 2013-11-29 13:26:57.509 GMT
By Daryna Krasnolutska and Aliaksandr Kudrytski Nov. 29 (Bloomberg) -- Selling stake in potash producer Belaruskali through IPO “currently makes no sense,” Belarus Economy Minister Nikolai Snopkov said yday in interview in Vilnius, Lithuania. * Belaruskali has “sufficient cash flow” and is preparing to begin development of lower-cost Petrikov deposit: Snopkov * Belaruskali privatization options may be discussed if potential strategic investor “ready to participate in the company’s development” makes an offer * Belaruskali privatization options may be discussed with potential strategic investor who is “ready to participate in the company’s development,” Snopkov says * Price tag >$30b for Belaruskali set by President Aleksandr Lukashenko is “fair” * Paperwork complete for IPOs of truckmaker BelAZ, several other cos., Snopkov says, without elaborating * Current mkt “uncomfortable” for IPOs * Belarus got offers to hold IPOs in London, Warsaw, Hong Kong * NOTE: Belarus govt plans IPOs of “highly liquid companies” in 2014-2015 NSN MVDUJX6KLVS0 <GO> * NOTE: BelAZ, Belaruskali, Mozyr refinery, BMZ were main drivers of 2013 economic growth, Snopkov said Nov. 22 NSN MWO3ID6TTDS4 <GO> * NOTE: Belarus Seeks Increase of Russian-Led $3b Bailout Loan, RIA Says NSN MX0T5L6JTSEL <GO>
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--Editor: Scott Rose
To contact the reporters on this story: Daryna Krasnolutska in Vilnius, Lithuania at +380-44-490-1252 or dkrasnolutsk@bloomberg.net; Aliaksandr Kudrytski in Minsk, Belarus at +7-495-771-7706 or akudrytski@bloomberg.net
To contact the editor responsible for this story: Balazs Penz at +36-1-475-1191 or bpenz@bloomberg.net