Oil Report

Russia's Sibur mulls IPO - chairman

ST PETERSBURG, Russia, June 7 (Reuters) - Russian petrochemical firm Sibur may hold an initial public offering (IPO) of some of its shares belonging to the firm’s management, its chairman Alexander Dyukov said on Saturday.

“The shareholders may decide to float some of the shares they own through IPO,” Dyukov told reporters on the sidelines of an economic forum in Russia’s second city of St. Petersburg.

Sibur's managers in April bought control of the firm from Gazprombank, the banking arm of gas giant Gazprom GAZP.MM. Gazprombank still owns some 20 percent of the firm.

Sibur said last year it might conduct a $1 billion IPO in 2008 to fund investment plans and buy new assets. (Reporting by Ekaterina Golubkova, writing by Tanya Mosolova)