Russia's Largest Iron Ore Company Plans London Float
The largest iron ore producer in Russia is planning to sell 20% of its shares on the London Stock Exchange (LSE). This move of Metalloinvest will expect to value the company at £12.3 billion.
The float that is expected to take place in the next couple of months will hopefully rekindle the confidence in LSE listings as a number of Russian companies backed out of them this month.
The group is 50% owned by one of the richest men in Russia Alisher Usmanov. Alisher Usmanov is also the part owner of the Arsenal football club. He is also the man who provided financial assistance for launching Mail.ru a Russian social networking internet company that was listed in the London Stock Exchange in November 2010 for £570 million.
Some of the companies that cancelled London Stock Exchange listings this month include the Kremlin controlled bank VTB which pulled out its 10% listing when it was oversubscribed. Another company Severstal which is a mining group had proposed a £900 million listing on the LSE for its gold unit called Nord Gold. However the float has been postponed.
The new of Nord Gold’s postponement of listing came after ChelPipe an oil industry pipe maker cancelled its listing. Coal and iron producer Koks also withdrew from a proposed listing as did the Russian pumps manufacturer HMS Hydraulic.
Written by
Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
Please use one of the following formats to cite this article in your essay, paper or report:
APA
Scanlon, Joel. (2019, March 19). Russia's Largest Iron Ore Company Plans London Float. AZoMining. Retrieved on January 31, 2026 from https://www.azomining.com/News.aspx?newsID=3190.
MLA
Scanlon, Joel. "Russia's Largest Iron Ore Company Plans London Float". AZoMining. 31 January 2026. <https://www.azomining.com/News.aspx?newsID=3190>.
Chicago
Scanlon, Joel. "Russia's Largest Iron Ore Company Plans London Float". AZoMining. https://www.azomining.com/News.aspx?newsID=3190. (accessed January 31, 2026).
Harvard
Scanlon, Joel. 2019. Russia's Largest Iron Ore Company Plans London Float. AZoMining, viewed 31 January 2026, https://www.azomining.com/News.aspx?newsID=3190.
We're committed to providing free access to quality science. By registering and providing insight into
your preferences you're joining a community of over 1m science interested individuals and help us to
provide you with insightful content whilst keeping our service free.
or
Terms
While we only use edited and approved content for Azthena
answers, it may on occasions provide incorrect responses.
Please confirm any data provided with the related suppliers or
authors. We do not provide medical advice, if you search for
medical information you must always consult a medical
professional before acting on any information provided.
Your questions, but not your email details will be shared with
OpenAI and retained for 30 days in accordance with their
privacy principles.
Please do not ask questions that use sensitive or confidential
information.
Read the full Terms & Conditions.