Russian fertiliser producer EuroChem is planning an initial public offering (IPO) in 2022, which could raise more than $1 billion, and has picked major Western and Russian banks as organisers of the listing, banking sources told Reuters. The company, controlled by Russian businessman Andrey Melnichenko, has picked Goldman Sachs, JP Morgan, UBS and Russia"s VTB Capital to organise the IPO, according to two banking sources and another person familiar with the matter. The pool of banks chosen by EuroChem, one of the world"s largest producers of nitrogen-based fertilisers, was not final and was subject for changes in the future, the three sources said. A post-pandemic economic recovery, a recent stock market surge and the growing number of retail investors are all fuelling a pick-up in listings in Russia following a barren few years. Eurochem, which is headquartered in Switzerland, and UBS did not immediately reply to a Reuters request for comment. Goldman Sachs, JP Morgan and VTB Capital declined to comment. Reporting by Olga Popova, additional reporting by Andrey Ostroukh and Polina Devitt; Writing by Andrey Ostroukh; Editing by Kirsten Donovan Our Standards: The Thomson Reuters Trust Principles.