Vedanta Resources is mulling a US public listing for its Konkola Copper Mines unit in Zambia, Reuters reported Wednesday, citing three sources familiar with the details.
Barclays (BCS) and Citigroup (C) were hired to advise on plans for an initial public offering, the report said.
The listing is one of Vedanta's options to try to raise $1 billion for mine development, and talks are in an early phase with no timeline finalized, the report said.
A Vedanta spokesperson said the company is weighing several financing alternatives, including internal accruals, debt instruments and equity options, the report said.
Barclays, Citigroup and Vedanta didn't immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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