Andrey Melnichenko's Eurochem is preparing for an IPO next year - Bloomberg

EuroChem, one of the largest mineral fertilizer producers in the world, controlled by billionaire Andrey Melnichenko, is considering an IPO next year, said . Bloomberg sources

No final decision has been made, but a 2022 placement has been discussed with potential consultants, three agency sources said. A spokesman for the company declined to comment to Bloomberg.

In the first half of this year, EuroChem reported record profits. This was facilitated by the energy crisis in Europe, which provoked record prices for gas and an increase in the price of nitrogen fertilizers as a significant cost item for agricultural enterprises. In addition to nitrogen, Eurochem produces potash and phosphorus fertilizers; key assets are located in Russia, Belgium, Lithuania and China.

Bloomberg estimates that Russian companies have raised about $3.4 billion through IPOs on various exchanges in 2021, the most in 10 years.

• Eurochem was founded in 2001. According to its own data , the company's revenue for the first half of 2021 grew by 45% compared to the same period last year, to $4.4 billion. EBITDA increased by 97% to a record high of $1.6 billion.

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