Russian tycoon prepares for second IPO in Hong Kong: reports

Russian tycoon Oleg Deripaska was preparing the initial public offering of one of his companies, Strikeforce Mining & Resources (SMR), in Hong Kong, Russian media reported on Tuesday.

The Russian billionaire expected a 200 million US dollar share sale in Hong Kong, said the reports.

SMR, Russia's largest producer of molybdenum and a unit of BazEl holding, is the second of Deripaska's companies to offer its shares in Hong Kong. The first company, debt-stricken RusAl, raised over 2,1 billion U.S. dollars through an IPO in Hong Kong in January.

SMR's IPO in Hong Kong is expected to start on May 27.

Source: Xinhua