September 15, 2008
Basel’s Smr to Conduct Ipo Road Show in Hong Kong in Oct – Source
MOSCOW. Sept 15 (Interfax) - Strikeforce Mining and Resources (SMR) Ltd., a company in Oleg Deripaska's Basic Element group, will hold a road show for an IPO in Hong Kong in early October, a source close to the deal told Interfax.
SMR would be the first company with Russia-based assets on its balance sheet to list in Hong Kong.
BasEl declined to comment.
SMR applied to bid at last week's tender for the giant Udokan copper deposit, but pulled out at the last moment. Gulzhan Moldazhanova, BasEl's chief executive, has said the outcome of the Udokan tender would not influence SMR's plans to list its shares. She said SMR was "Russia's biggest molybdenum producer, with a 5.5% share of the European market, and it will be appealing to investors in any event."
Strikeforce is a subsidiary of SoyuzMetalResource, which was established in 1997. It mines and processes copper and molybdenum concentrates and is Russia's biggest ferromolybdenum producer.
SoyuzMetalResource controls the Russia-based mining sector assets Sorsky and Zhirekensky copper-molybdenum mining and processing plants and Zhireken Ferromolybdenum Plant, and Kyrgyzstan-based Jany Jyld Gold Limited.
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