IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Intergeo, the Russian copper and nickel company owned by billionaires Mikhail Prokhorov and Maxim Finskiy, hopes to raise from C$100 million ($104.2 million) to C$500 million in a initial public offering on the Toronto Stock Exchange by the end of the year.
Finskiy, the company’s chairman and 20 percent stakeholder, told Reuters in an interview on Wednesday the company would float about 10 percent of its shares in the offering.
