Nippon Steel not to import from overseas mills in bid to save US Steel deal
Nippon is looking to close its $14.9 billion deal for US Steel by the end of the year.
Uzbek copper, silver and gold producer Almalyk Mining and Metals Combine (AGMK) announced a tender on Thursday to hire an underwriter to conduct an IPO on the local stock exchange this year.
According to the announcement on the Uzbek Republican Commodity and Raw Materials Exchange, the deadline to submit applications is June 7, and its offered starting cost for the service is $9 million.
Previously, state-owned AGKM planned the placement of shares by the end of 2024, but the authorities have decided to carry out a local listing first, followed by a foreign one.
AGMK said last year it would borrow 712 million euros ($741 million) from Russian development bank VEB to build a new copper refinery.
AGMK produces more than 140,000 tonnes of cooper annually, also mining around 20% of the country’s gold production and 90% of its silver production.
($1 = 0.9610 euros)
(By Mukhammadsharif Mamatkulov; Editing by Mark Potter)
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