Russia's biggest coal producer, Siberian Coal Energy Co., or SUEK, is mandating banks ahead of a possible initial public offering, Interfax news agency reported Monday citing an unnamed investment banker.
"The company chose the banks very recently, it's possible they haven't yet received the official mandates," the banker told Interfax, naming the banks as Morgan Stanley, Deutsche Bank and Renaissance Capital.
In June SUEK called off a merger with the electricity business of gas giant OAO Gazprom (GAZP.RS).