Russia Acron plans to raise $1 bln in LSE float

MOSCOW, May 4 (Reuters) - Russia's nitrogen fertiliser producer Acron (AKRN.MM) plans to raise $1 billion by placing up to 20 percent stake of its stock on the London Stock Exchange in July 2008, a senior company executive told Reuters on Sunday.

"The company plans to hold a public offering for up to 20 percent of its shares. Shareholders plan to raise about $1 billion," said Acron's Vice President Alexander Popov.

Popov said the company will place existing shares and does not plan a new share issue. He declined to specify which owners plan to sell their stakes. Acron is owned by several firms with neither holding a majority or a blocking stake. (Reporting by Vladimir Soldatkin; Writing by Gleb Bryanski; Editing by Louise Heavens)