IPSCO Tubulars, a subsidiary of Russian oil and gas pipe maker TMK, plans to offer about 23.3 million shares at $20-23 per paper during an initial public offering (IPO), the company said in a statement on January 29.
IPSCO Tubulars will sell 7.4 million shares, and TMK will sell 15.8 million shares it owns in the affiliate, the company said.
BofA Merrill Lynch and Morgan Stanley will act as joint book-running managers of the deal, while J.P. Morgan, UBS Investment Bank, Citigroup, Credit Suisse, Barclays, and Evercore ISI will act as joint book-runners of the offering, TMK said. (Prime/Ukrainian metal)
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