Russia 's Basic Element could increase its investment in China 's natural resources by becoming a cornerstone investor in the anticipated initial public offering (IPO) of energy-related group En+, according to industry sources. En+, which manages Deripaska’s aluminum and hydro power businesses, wants to raise about $1.5 billion from a possible IPO in London, Deripaska said in June. The deal, which would be conditional on the IPO going ahead, would follow hot on the heels of the Russian conglomerate's $9bn purchase of a 14% stake in Russia 's state-backed oil major Rosneft . En+ is looking to raise $ 1.5bn for debt repayment and investments.
Russia 's Basic Element could increase its investment in China 's natural resources by becoming a cornerstone investor in the anticipated initial public offering (IPO) of energy-related group En+, according to industry sources. The deal, which would be conditional on the IPO going ahead, would follow hot on the heels of the Russian conglomerate's $9bn purchase of a 14% stake in Russia 's state-backed oil major Rosneft . En+ is looking to raise $ 1.5bn for debt repayment and investments.