Sibur considers US$1 bln IPO in mid 2008

Russian petrochemical firm Sibur plans to conduct an initial public offering (IPO) in 2008 to fund investment plans and buy new assets. The firm, previously owned by gas export monopoly Gazprom, is now controlled by Gazprom's pension fund, Gazfond. Sibur plans to invest US$4 bln over the next 4-5 years to develop its existing business and acquire new assets. Of this outlay, approximately one billion is estimated to be raised by the IPO