RTRS:UPDATE 1-Russia Copper Co eyes $1.2 bln London IPO -paper
* To offer 20-25 percent of shares in Q3 2011 -Kommersant
* Company valued at $3.6 bln to $4.8 bln
* 2010 copper cathode output up 18 percent on prior year
(Adds RCC 2010 output)
MOSCOW, May 20 (Reuters) - Russian Copper Co (RCC) plans to offer 20-25 percent of its shares in a London float this year, anticipating a recovery in copper prices, business newspaper Kommersant said on Friday.
Russia's third-biggest copper producer could raise between $900 million and $1.2 billion through the IPO scheduled for the third quarter of the year, Kommersant said, citing sources close to the situation and RCC's shareholders.
The offering will comprise both new and existing shares in the company, which has been valued at $3.6-$4.8 billion.
RCC declined to comment.
Copper prices CMCU3, often seen as a gauge of economic activity, have slipped in recent months, and their recovery is in doubt due to patchy U.S. data, a debt crisis in the euro zone and persistent concerns about global economic growth.
