MOSCOW, October 6 (RIA Novosti) -- Russia's top steel maker, Severstal [RTS: CHMF], has announced plans to list its global depositary receipts (GDR) and ordinary shares on the London Stock Exchange, the company said Friday.
It said the placement will be organized by Frontdeal Limited, a Cyprus-registered company controlled by Severstal owner Alexei Mordashov.
Severstal said in early June it will transfer to the Cypriot company 365,413,374 ordinary registered shares at a par value of 0.01 rubles and a placement price of 320.74 rubles (about $11.80) per share in exchange for Frontdeal assets.
