Uzbek gold miner NMMC prepares for a London IPO potentially valuing the company at £4 billion. Rothschild & Co. is serving as the advisor. The IPO is anticipated to occur in the latter half of the year, following a successful $1 billion bond sale. NMMC is crucial to Uzbekistan’s economy, producing significant gold and employing thousands.
Navoi Mining & Metallurgical Co. (NMMC), recognized as one of the largest gold producers globally, is preparing for a potential initial public offering (IPO) in London this year, which could value the state-backed Uzbek miner at approximately £4 billion ($5.2 billion). Rothschild & Co. serves as the IPO advisor, with the offering expected to launch in the second half of this year. Last year, NMMC successfully raised $1 billion through bonds traded on the London Stock Exchange, collaborating with banks like Citigroup Inc. and JPMorgan Chase & Co., who may also participate in the IPO.
In summary, NMMC’s forthcoming IPO reflects Uzbekistan’s broader strategy to privatize assets and revitalize its economic landscape. The potential valuation signifies confidence in the mining sector, while offering London an opportunity to rejuvenate its IPO market. Given the challenges faced by the UK market and the strategic importance of NMMC’s operations, this IPO is poised to attract significant attention.
Original Source: www.mining.com
