Alrosa's planned share flotation could value the company at up to $15 billion, according to CEO Fyodor Andreev.

The Initial Public Offer (IPO) of 14 percent of the firm's shares is due to take place on the Moscow stock exchange in October or November, said Andreev following a meeting with President Vladimir Putin.

Putin has requested that share offerings of state-owned firms be carried out on the Moscow exchange rather than foreign markets such as London, New York or Hong Kong.

"The share placement is planned for late October or early November," Reuters cited Andreev as telling reporters.

"The sale of a 14-percent stake on the Moscow stock exchange is a base-case scenario." Final approval of the deal is expected by June 25.

The company aims to attract a wide range of investors rather than a large strategic shareholder, Andreev said.

He added that Alrosa's valuation is predicted to be from $9 billion to $15 billion. That would lead to proceeds of $1.3 billion to $2.1 billion from the IPO.

The Russian federal government and the region of Yakutia have said they plan to raise at least $1 billion by each selling 7 percent of shares in Alrosa.

The government owns 50.9 percent of the company, while Yakutia, also known as the Sakha Republic, where most of Alrosa's operations are based, owns 32 percent. Municipalities in the region own a further 8 percent.

Alrosa produces around a quarter of global supply and this year again expects to report a net profit of around $1 billion on revenue of more than $4.5 billion from production of around 34 million carats as it did in 2012.

Alrosa also aims to raise $1.15 billion via the sale of its gas assets in Russia by the end of 2013 in a bid to ameliorate its financial position, Andreev said.

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