Russia, mining sell-off but Sibanthracite launches deal
Sibanthracite, a Siberian miner of anthracite, on Tuesday launched a London IPO of perhaps $200m-$300m in what will be a tough test for an otherwise-buoyant new listings market.
The company has an analyst-friendly story — a unique opportunity to buy a miner of a rare and high-quality type of coking coal — but it operates in what is now an unfavoured sector and geography, while the size provides little prospect of liquidity.
The IPO is being
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