Russian billionaire Leonid Mikhelson said ZAO Sibur Holding, eastern Europe’s biggest petrochemicals producer may hold an initial public offering as soon as 18 months from now.
“I think in 18 months to 3 years Sibur will have an IPO,” Mikhelson told reporters on June 17 in St. Petersburg. No share sale is planned for this year, he said.
Mikhelson is building up his ownership of Sibur to as much as 100 percent after buying a quarter of the company last year. The billionaire, who is also chief executive officer of OAO Novatek, Russia’s second-largest gas producer, said he’s considering an IPO or bringing strategic partners into Sibur, according to a Jan. 26 interview in Davos, Switzerland.
Sibur produces about 24 percent of Russia’s tires and about 6 percent of the country’s nitrogen fertilizers, according to a company presentation.