Credit Suisse this morning launched its second London listing of a Russian metals company in 24 hours, setting a price range for pipe maker TMK's initial public offering to raise up to $972m (€775m).

Credit Suisse, which is managing TMK's flotation alongside Dresdner Kleinwort and Renaissance Capital, yesterday also launched an initial public offering for Chelyabinsk, Russia's largest zinc producer, on which it is sole bookrunner.