Stavropol sapphires once again ready for IPO?

Stavropol sapphires once again ready for IPO?Monocrystal, the Stavropol-based Russian producer of artificial sapphires for electronics, is revisiting its IPO idea thwarted four years ago, and wants to offer investors 25% of its stock

Monocrystal, the Stavropol-based producer of artificial sapphires for electronics in Russia?s South, is revisiting its IPO idea thwarted four years ago, and wants to offer investors 25% of its stock, portal Rusnanonet.ru reported, citing information from Russian business daily Vedomosti. Word on the IPO plans by this portfolio company of Rusnano, Russia?s nanotech giant, reportedly came from anonymous sources in two banks and was confirmed by a person believed to be affiliated with one of Monocrystal?s shareholders. The sources think the planned offering will be completed by the end of this summer. One of the underwriters is JPMorgan, while the candidacy of another one, Credit Suisse, is still under debate. Monocrystal manufactures special artificial sapphire wafers that are used in LED and LED TV production, and in other segments. In 2010, Monocrystal already geared up for its IPO and even launched a road show. The stock was to have begun trading at the RTS and MICEX, Russia?s two largest exchanges at that time; the company was valued at 53-75 EBITDA, or $0.77-1.07bn...