Eurasian Natural Resources Corporation, the Kazakhstan-based mining company, was poised last night to complete an initial public offering that will raise about £1.36bn, one of the biggest listings on the London Stock Exchange this year.

ENRC, a miner of iron ore, coal, ferrochrome and alumina, is selling 252.5m new shares representing 20 per cent of the company. The shares are expected to be priced at between 530p and 570p each, in the middle of the original price range of 480p to 600p.