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Sibur Board to discuss IPO in coming weeks — shareholder

About 2% of shares may be floated, Leonid Mikhelson said

RAS AL KHAIMAH, December 5. /TASS/. The Board of Directors of the Russian petrochemical major Sibur will discuss the initial public offering (IPO) of the company in coming weeks, Novatek CEO and company shareholder Leonid Mikhelson told reporters on the sidelines of the 17th Verona Eurasian Economic Forum.

About 2% of shares may be floated, he said.

"The Board of Directors will meet in recent weeks on this topic," Mikhelson added.

According to the latest available data, Mikhelson holds (30.6%) in Sibur, followed by Taif shareholders (15%), Gennady Timchenko (14.5%), former and incumbent management of the company (12.3%), Sogaz (10,6%), Sinopec and the Silk Road Fund (8.5% each).