NMMC is preparing for a London IPO that may value the company at £4 billion. The IPO is advised by Rothschild & Co., with prior bond issuance support from major banks. This effort ties into Uzbekistan’s privatization goals and aims to invigorate London’s IPO market.
Navoi Mining & Metallurgical Co. (NMMC), a prominent gold producer in Uzbekistan, is preparing for a potential initial public offering (IPO) in London that could value the state-backed company at approximately £4 billion ($5.2 billion). This listing is being facilitated by Rothschild & Co. as an advisor, with the IPO expected to occur in the latter half of the year. Last year, NMMC successfully raised $1 billion through bonds on the London Stock Exchange, supported by banks such as Citigroup Inc. and JPMorgan Chase & Co.
In summary, NMMC’s impending IPO seeks to enhance Uzbekistan’s privatization strategy and stimulate London’s IPO market, which has faced challenges in recent times. The company’s significant contribution to the national budget and its large-scale operations, including one of the world’s largest gold mines, underscore the potential impact of this listing.
Original Source: www.mining.com
