22 October 2003 07:58
VOLGA-DNEPR TO DISCUSS IPO IN MID-2005
MOSCOW. Oct 22 (Interfax) - The Volga-Dnepr group plans to discuss an initial public offering in mid-2005, Sergei
Shklyanik, the company's vice president for strategic management, told the press in Moscow on Wednesday.
Shareholders have already approved the IPO, he said.
"If the first phase of a scheduled cargo flights project is successful, it will not be able to continue without
direct investment," Shklyanik explained. The group has not yet decided which of its companies will float
shares.
The main production funds are concentrated in Volga-Dnepr Airlines, while the main cash flows are concentrated in
Volga-Dnepr UK Ltd. If the shares are placed on the foreign market it will be easier for the foreign company.
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