Behind every billionaire there is a story!

Russian moly miner SMR plans Hong Kong IPO

 Russian molybdenum miner SMR, which owns the mineral assets of billionaire Oleg Deripaska, plans to float at least 25 percent of its shares in Hong Kong by this year’s fourth quarter, a company official said on Monday. SMR Chief Executive Geoffrey Cowley told reporters he valued the company at about $700 million and that organisers of the initial public offering would be selected next week.

He said the company had chosen Hong Kong for its listing as multiples there were higher than on other bourses. 

 :-) Very nice! Its like saying dumb Asian buy everything more expensively.

read the rest published  by Yahoo here:

http://sg.news.yahoo.com/rtrs/20080218/tbs-basel-resources-ipo-7318940.html

http://sg.news.yahoo.com/rtrs/20080218/tbs-basel-resources-ipo-7318940.html