Sunday Times reported citing people familiar with the company plans said OAO Metalloinvest billionaire Mr Alisher Usmanov iron ore producer is planning an initial public offering in the first half of the year.

The newspaper said Deutsche Bank AG is working on the deal, which may be worth as much as USD 20 billion and Bank of America Merrill Lynch, Credit Suisse Group AG and VTB Capital SA may also have a part to play. Usmanov may decide to go public in Hong Kong rather than in London.

(Sourced from Sunday Times)