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Emerging Markets

Sibanthracite gets discount size of Siberia in Russian mining test

Russian equities are off 15% since February, some of the country’s metals and mining firms are off 50% or more, and IPO investors are again putting a premium on deal size and liquidity. As such an up-to $214m sale of 25% of Siberian anthracite mining firm Sibanthracite was always going to need a big discount.

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