OREANDA-NEWS. August 9, 2010. Belarusian state-controlled Belaruskali will go public by the end of the year; preparatory operations will be completed soon, Deputy Director of the State Property Fund with the State Property Committee Vladimir Kovalevsky told a news conference.

“We will definitely create an open joint-stock company based on Belaruskali this year. We will have market valuation of assets, but it is premature to speak about it, as we have not created the OAO yet,” Kovalevsky said.

“The preparatory work is close to completion. The only things left are for the branch commission to make the decision and to make an order to issue shares of Belaruskali,” he said.

Belaruskali will become an open joint-stock company with a 100% state stake. “We will not have sale of shares to the staff of the producer on easy terms or sale in exchange for Property vouchers. We will accumulate a 100% shareholding to offer a stake to an investor,” he said.

He said it was premature to comment on the size of the shareholding to be sold to a foreign investor. “We will be working either on the basis of direct talks or a competitive tender.”

Earlier, First Deputy Prime Minister Vladimir Semashko said Belarus was ready to sell a USD 6-7 billion stake in Belaruskali to a foreign investor, and talks were underway with China. He noted that Belarus would not put up for sale a controlling or blocking stake, though.