Europe's Largest Diamond Field May Get LSE Listing

A subsidiary of Alrosa, Russia's diamond monopoly, is looking to list on the London Stock Exchange. The listing is for Severalmaz, a company that is developing Europe's largest diamond field, according to an Alrosa senior executive.

Severalmaz, which has the license for the Lomonosov field in the Far North, could be listed in early 2005. It is estimated that Lomonosov's reserves will last 50 years with $200 million of diamond output annually.

Alrosa sources forecast the IPO could float up to 42 percent of Severalmaz.