Uzbek Gold Miner NMMC Ramps Up London IPO Preparations
- Co. is working with Rothschild on potential listing in the UK
- A share sale could value the gold miner at £4 billion or more
Navoi Mining & Metallurgical Co., one of the world’s largest gold producers, is eyeing a potential London listing this year that could value the Uzbekistan state-backed miner at £4 billion ($5.2 billion) or more, according to people familiar with the matter.
Rothschild & Co. is working as an IPO adviser on the possible listing, which could take place as soon as the second half of the year, the people said. The mining company, more commonly known as NMMC, raised $1 billion via bonds traded on the London Stock Exchange last year. The banks that worked on the bond sale including Citigroup Inc. and JPMorgan Chase & Co. are in a good position to win roles on the IPO as well, the people said, asking not to be identified discussing confidential information.