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U.S. unit of Russia's Evraz targets $400 mln from IPO - sources

Reuters - UK Focus

MOSCOW, Sept 29 (Reuters) - Evraz North America, the U.S. unit of Russian steelmaker Evraz (LSE: EVR.L - news) , wants to raise about $400 million from an initial public offering (IPO) of between 25 percent and 35 percent of its shares, two banking sources in Moscow said on Monday.

One source told Reuters the shares would most likely be offered by the end of this year, while the second source said the deal could be done in early 2015. (Reporting by Olga Popova; Writing by Polina Devitt, editing by Elizabeth Piper)