Vedanta's CopperTech Metals targets $3.6 billion valuation in US IPO

Vedanta Resources' US-domiciled unit CopperTech Metals is targeting a valuation of about $3.6 billion in its US IPO, planning to offer 23.5 million shares in a price band of $16 to $18 apiece. CopperTech, which owns and operates Konkola Copper Mines in Zambia's Copperbelt province, will list on the New York Stock Exchange under the symbol CUX. Citigroup and Cantor are joint book-running managers for the offering.