Alrosa IPO “Within a Year to a Year and a Half”

Alrosa’s initial public offering (IPO) could be as soon as 12 to 18 months, Alrosa’s president, Sergei Vybornov, said. If it does go forward in 2008, the IPO could be the largest flotation of the year and worth around $10 billion (£4.9 billion).

The state-owned Russian diamond miner has been trickling out its intention to issue shares to the public for some time. According to The Independent, bankers opined that London would be the obvious place for it to list.

The recent speculation began when Alrosa’s president, Sergei Vybornov, said, “In the nearest future, I mean within a year or a year and a half, we are planning an IPO.”